It expects to produce between 28 million and 31 million pounds of copper at the Yukon Territories mine in 2022.

Metal price rose on Friday, supported by a rebound in equities and tight supply, but a firmer dollar and expectations of an early US interest rate hike kept copper on track for its biggest weekly decline in more than two months.

Four operators have announced curtailments totalling over half a million tonnes of annual production capacity, reports Andy Home.

Mining international waters is in the spotlight as companies and countries are looking at minerals concentrated on the ocean floor that can be used in batteries for smart phones and electric vehicles.

The Cerro Colorado mine has cut 35 direct jobs, BHP said in a statement.

Both mines are open pit copper producers formerly belonging to Mantos.

The US Federal Reserve signaled that it may raise interest rates sooner than expected.

South32 said on Thursday it would spend about $70 million to restart the Alumar smelter.