The appeals court upheld Florence Copper's right to mine its property within the town, and confirmed the awarding of $1.7 million in legal fees and costs to Florence Copper.

The copper giant has reinstated a higher base dividend a year after announcing suspension of payments.

Freyr plans to start a pilot plant near the Arctic Circle in Norway by next year.

The smelter will have an input capacity of 2.4 million tonnes of copper concentrate and an output capacity of 600,000 tonnes.

The global zinc market was oversupplied by 11,700 tonnes in January after a revised surplus of 23,500 tonnes in December.

Group also proposed minimizing Nornickel's final dividend payment for 2020.

Negotiations over the 36-month contract have been lengthy and at times fractious, with members voting to reject a previous offer and strike on March 9.