Company has obtained a license to ship copper concentrate from its Indonesian operation until May 2024.

The shares will be sold to MIND ID, Indonesia's state mining holding company.

Aneka Tambang, Indonesia Battery Corporation and a consortium led by LG are building the facility as part of a $9.8 billion “grand package” to build battery production onshore.

Move marks the first time a US government agency has included copper on one of its official “critical” lists, following the examples of the European Union, Japan, India, Canada, and China. 

The Wa region is estimated to have accounted for over 70% of Myanmar's tin production in 2022.

The partners spent years mired in a tussle over development of the Oyu Tolgoi mine which is the country's biggest foreign investment.

Chinese companies likely to apply to the LME include Tsingshan Group, China's largest nickel producer.

Despite the personnel moves, there aren’t yet signs of permanent retrenchment among hedge funds in metals.