The approval comes after extended negotiations over regulations concerning the Cobre Panama copper mine, which accounts for about 4% of Panama's GDP.

Fitch Solutions is revising down its 2023 average annual copper price forecast as US dollar strength and market fears of another US Fed rate hike places a cap on price growth.

Freeport has a temporary exemption from a nationwide ban on exports of mined copper, but it faces a cliff-edge scenario in May.

China's largest copper buyers expect to pay a premium of around $90 per metric ton next year.

Vale is not seeking new partners for its Base Metals unit following a recent equity sale, CEO said.

Mopani bidders are Sibanye, Zijin, and IHC-linked investor, according to Reuters.

The world's largest copper producer said the blaze occurred Sunday in the aging mine's concentrator plant, where work is underway to extend the productive life of the mine by decades.