BMO reckons nickel and copper prices will rally and firm up this year

Copper production for the three months to June 30 also fell 14% from the year before.

The diversification strategy includes plans to expand into international mining to secure access to minerals including copper, cobalt and nickel, as well as lithium.

Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule. 

The metals and energy major plans to ramp up copper production from the mines to 300,000 tons a year and cobalt output to 6,000 tons.