Project construction was approved in the summer of 2021, nearly a year after Artemis acquired the asset from New Gold.

Research company slashes its 2023 copper price forecast and predicts a return to $10,000-plus levels only in 2027 as long term structural deficits emerge.

Tampakan, considered the Philippines' biggest untapped copper-gold reserve, was stalled for over a decade but saw a glimpse of hope in May.

Investing in mineral-rich countries would be easier than building new mines in the US, said Benchmark Mineral Intelligence Executive Editor Henry Sanderson in an interview.

The Asunción Mita municipality launched a popular consultation that will either allow the mine to go ahead or halt its development over environmental concerns.