The miner said selling the copper concentrate is the best alternative to generate resources to cover the costs.

Electricity for Kibali comes from three hydroelectric stations and the newly commissioned 16 MW solar power plant and energy storage facility.

Again and again, Brazil is showing just how quickly money managers are willing to shrug off disasters.

Endeavour has slumped 18% this year.

The miner sold two tranches of debt worth a total of $2 billion last week at 230 basis points and 235 points above US Treasuries.

Polymetal International is seeking to sell its Russian assets, which were sanctioned by the US in 2023.

The miner said it was hit by adverse geopolitical risks and postponed furnace repairs, following a drop in production in 2023.

Reuters recently reported that President Lula wanted Mantega to be appointed to a board seat at the mining giant.