Appian plans to be “one of the most active investors in the metals and mining space over the next few years.”

Mine is currently operating with military protection.

The companies already have a long-standing relationship dating back to 1985 with the commissioning of Escondida, the world's largest copper mine.

Peru has doubled down on efforts to amp up production following a May report that the Democratic Republic of Congo could nab the No. 2 spot.

A drilling campaign is underway to test high-priority targets with the objective of adding further resources.

Higher percentages of on-warrant Russian aluminum in LME-registered warehouses suggest consumers and traders are avoiding Russian metal even though it is not sanctioned.

Figures on Monday showed inflation eased to zero in June, while factory-gate prices fell further.