The 60% increase comes as the covid-19 pandemic has delayed construction at the Quebrada Blanca phase 2 project.

The Hamburg-based company is looking to switch to alternatives like fuel oil, but is bracing for a potential restriction in gas supply.

The German industry faces an uncertain winter as Russia is cutting its massive gas deliveries to Germany. 

Nutrien has said it will ramp up potash production capability to 18 million tons by 2025, a 40% increase compared to 2020.

China is exposed to international iron ore prices as it must import nearly 80% of its annual consumption.

“The process of publicly airing these matters has built trust and accelerated the momentum for change,” said Kellie Parker, Rio Tinto's chief executive for Australia.

Alberto Calderon estimated that 40% of the cost increase in the first half of this year was attributable to diesel prices.