The metal rose to near the strongest level since 2008 as traders assessed the possible impact of a potential easing of geopolitical tensions over Ukraine.
The document, which has yet to be approved by Congress, will see First Quantum pay $375 million a year plus a royalty of 12% to 16% of the mine's gross profits.
Embryonic plans to nationalize mining, the creation of a one-chamber Congress, water rights, and protections for indigenous territories are some of the more edgy motions the assembly will discuss.