Official trade data shows exports worth A$60.5 million ($41.04 million) of copper ore and concentrate to China in January.

China's imports of iron ore rose 5.1% in April from the same period the previous year.

Measures follow an accident in late February at an open-pit coal mine that killed at least five and left 48 people missing.

Prices are about 3% lower from near record levels.

Market is expected to remain in a deficit in 2023 but conditions will not be as tight as previous years, according to the investment bank.

This transaction, says Steppe, would create "a leading junior gold producer with significant near-term growth."

Copper inventories in Shanghai Futures Exchange warehouses fell to their lowest levels since January.