Peru copper output seen growing to 3mt in 2024, minister says

Once submitted, the revised application will tack on around 12 months to the overall regulatory process.

The direct cost reached 198.8 cents per pound, a year-on-year increase of 39.6 cents, the report found.

The Quebrada Blanca 2 project would now cost between $8.6 billion and $8.8 billion, compared with an earlier estimate of $8 billion to $8.2 billion.

Anglo expects to produce between 830,000 and 870,000 metric tons of copper this year, lowering a previous forecast of 840,000 to 930,000.

The company expects to see annual production at the lower end of its 2023 guidance for QB2.

Indonesia is set to stop exports of copper concentrate from May after the government delayed the implementation of a ban from June this year.

"They don't distinguish between the good coal and the bad coal," former Teck CEO says.

The Saudi state-owned miner previously paid $126.5 million for its original 9.9% stake.

The new contract guarantees a minimum annual income of $375 million to the government and will be effective for 20 years.