The output of the red metal would be a 6% increase from the 5.51 million tons expected to be produced this year.

The European Commission has estimated that the EU will require 18 times more lithium in 2030 than in 2020 and fives times more cobalt.

Following the successful nickel sulphate production, SGS continues testing to produce what TMC believes will be the world’s first cobalt sulphate from polymetallic nodules.

Fabricators have struggled to pass on higher costs to their customers, forcing them to rein in purchases since March, one copper trader said.

State-owned Zesco stated that it is seeking to import power to avert an energy deficit that could affect output in Africa's second-largest copper producer.

CSA, acquired from Glencore, is one of Australia’s longest operating copper mines with a history stretching back almost 150 years.

The mining giant said its quarterly production of copper rose to 1.1 billion pounds from 965 million pounds a year earlier.

Copper prices have recently been bolstered by expectations of tight supplies and optimism about demand prospects from energy transition.