New report by Fitch Solutions forecasts over 7 million tonnes will be added to global copper production through 2031 as a raft of projects in Chile, Peru and Congo come online.

Noront's primary asset is the Eagle's Nest project, which has been billed by Wyloo as the largest high-grade nickel discovery in Canada since the Voisey’s Bay find in Labrador.

BHP said it will invest $12 million on exploration in the next 10 months and is evaluating six potential projects.

While the rest of the world worries about recession, China is steadily increasing its imports of physical copper.

Finland has thus far not collected taxes on minerals but the government now proposes introducing a royalty of 0.6% on the taxable value of metallic minerals.

The move will add 30,000 tonnes of copper production from early 2023 to 2027, alongside the site's open pit operations.

The parties have agreed to pause hearings on their dispute over Konkola Copper Mines for six months.

The charges are higher than the $80 per tonne and 8 cents per pound set for the third quarter of 2022.