Copper smelters in China are maintaining production at near-record levels.

Such an outflow, if a deal goes ahead, could weaken the rand.

Anglo American was encouraged by key shareholders to continue engaging in talks with BHP over its proposed $49.18 billion mining merger.

China continues to dominate the EV market, as every second electric car sold globally in the past year was made in the country.

The metal has risen almost 20% this year, reaching a record $11,000 per tonne this week.

Rounding out the top five were Nevada, Saskatchewan, Quebec and Western Australia.

Nornickel is the world's largest producer of palladium and a major producer of platinum.

Of the investors that Bloomberg spoke to this week, some suggested that BHP should provide a commitment to cover any lost value suffered by the subsidiaries’ new owners.