The probe will focus in particular on project delays and planning, as well as Codelco's corporate structure, according to a congressional statement.

By 2025, deficit is projected to spike to 217,000 tonnes and could further intensify to a staggering 2.2 million tonnes by 2032.

LME storage capacity grew modestly in the second quarter of this year, the first quarterly increase in two years.

Trafigura’s metals business has been struggling over the past eighteen months.

Kataman Metals alleges it paid $3.3 million for nickel from New Alloys Trading only to discover that there was no nickel inside the containers.

Maike until recently was responsible for a quarter of China’s refined copper imports, but ran into difficulties last year.

The government and state-owned miner Gecamines say ERG has been too slow to develop the deposits.

Underlying earnings for the year ended June 30 came in at $916 million, lower than the $2.60 billion posted last year.