It is supplementing its A$1-per-share bid with an off-market offer of equal value in an effort to defeat Shandong Gold.

Trump first granted the exclusion to Canada in 2019, but a surge in imports of Canadian non-alloyed, unwrought aluminum prompted him to slap the tariffs back on in August, inflaming tensions with Ottawa.

The stock surged 9.7% following news of the company teaming up with Friedland on its silver-gold-copper project in Montana.

Glencore has also agreed to buy copper and zinc concentrate produced during the Horne 5 project mine-life, currently estimated at 15 years.

The miner has kicked off a ground investigation program consisting of 20 geotechnical drill holes.