Deputies in Chile’s lower house gave their general backing to a constitutional reform that would impose a flat 3% royalty on the production of copper and lithium to finance environmental and social programs.
The global nickel market recorded a supply-demand surplus of 108,000 tonnes last year and is on track to record another 45,000-tonne surplus this year.
The global copper market should see a surplus of 79,000 tonnes in 2021 and of 109,000 tonnes in 2022, according to the International Copper Study Group.