Panguna, formerly operated by Rio Tinto Group, shut in 1989 after local protests over mine revenue degenerated into a civil war.

Azure, which is developing the Andover lithium and nickel-copper-cobalt project in Western Australia, continues to attract investment.

As part of its stated ambition to challenge China’s dominance, the Biden administration saw an opportunity to revitalize a century-old rail line linking key African mines to an Atlantic Ocean port.

"For me M&A is an ad hoc opportunity to create value," CEO Mark Bristow told Reuters.

Saudi Arabia is in ongoing talks with Pakistan to buy part of the government’s stake in the $7 billion copper project, says Mark Bristow.

On a Scope 1 and 2 basis, Kamoa-Kakula's GHG emissions intensity in 2022 was 0.16 equivalent tonnes of carbon dioxide per tonne of contained copper produced.