The company expects refined zinc and lead production of 980,000 to 990,000 tonnes this fiscal year.

MINING.COM’s EV Metal Index hit a new all-time monthly high as lithium, nickel and cobalt prices continue to rise.

Most of the investment will go to its giant Minas Rio iron ore mine, located in the mineral-rich state of Minas Gerais.

China exported 15,545 tonnes of refined lead in September, the highest monthly tally since 2007, writes Andy Home.

The Indonesian arm of the Brazilian mining giant is expecting nickel matte production of 65,000 tonnes in 2022, compared with an annual average of 70,000-75,000 tonnes.

The Ministro Hales mine produced 144,000 tonnes of copper in the first nine months of the year.

Average LME nickel prices are seen declining to $17,000/t in 2022 from an estimated $18,500/t this year, Antaike says.

Price was also capped by worries about the ongoing property crisis in China.