Without the awaited export permit, Freeport will have to suspend operations, resulting in significant implications for overall operations and sales of mining products.

The reopening of the South Crofty tin mine in Cornwall is part of a wave of mining activity across England’s southwestern tip.

Copper output from Escondida fell 21.5% to 83,900 metric tons.

The total production for the year is set to be in the lower estimated range of 1.35-1.42 million metric tons.

The number of the approximately 500 cobalt, copper, lithium and nickel mines operating today will need to increase by as much as 76%, it says.

The consortium comprises Sumitomo Metal Mining, Mitsubishi Corp and Mitsui & Co Ltd.

A deal could help unlock funding to advance the Konkola Deep Mining Project, which holds one of the world's richest copper deposits.

Africa's biggest copper producer currently exports copper, cobalt and other metals in trucks via Tanzania or South Africa.