Kingsrose has numerous early-stage nickel-copper exploration targets and has secured exploration licences across the two Nordic nations.

The South American country produced 2.76 million tons of copper last year, dropping its rank from first to second for global production.

The offering will help fund near-term growth initiatives at its Copper Mountain unit.

Many participants in the physical trade have been warning that prices were running ahead of signals of underlying market conditions.

Canada's government has taken a tough stance specifically on investments from China in critical minerals such as copper, graphite and lithium.

The Nisk deposit was first discovered by Inco, now Vale, in 1962.

BHP has until 16:00 GMT on Wednesday to make a binding bid for Anglo American.