Miner reported lower copper, zinc and nickel production in the first quarter.

The reforms would require miners to give back at least 10% of profits to communities and disclose the impacts of their operations.

Zinc prices are down nearly 6% so far this year.

In February, the company was forced to stop operations at Grasberg after the mine was hit by floods.

The miner reiterated its annual forecast of 278 to 290 Mt for Western Australian iron ore output.

Demand for copper to build most electronic devices will exceed supply over the next decade and imperil climate targets unless dozens of new mines are built, analysts say.

The company seeks to counteract a drop in ore grades with "structural projects" and maintain production levels.

This graphic explores the latest EV production data for 2022, showing BYD taking a massive step forward to surpass Tesla.