Argentina’s Mendoza province is moving to spur exploration of its copper deposits.

BHP’s timing was good but the complexity of the deal requiring demergers and a copper price rally made it difficult to execute, investment officer said.

Investors are looking to cash in following a blistering rally in industrial metals markets.

In the migration to fiber-optic cable, telecommunications companies could recover as much as 800,000 metric tons of copper over the next decade.

Chinese imports have already been strong in recent months.

“With physical markets still tight, further squeezes are possible, so CME may not be out of the woods yet,” said Bank of America.

Mining represented 28% of Mongolia’s GDP last year and comprised 92% of all exports.