A Reuters poll showed that prices are due to recover slightly, supported by low inventories.

“We’re certainly learning from it and watching how that progresses,” said Mark Bristow.

Wood Mackenzie estimates a greener world will be short about six million tonnes of copper by next decade.

Freeport will also be required to build a smelter in Papua.

The world's largest copper producer posted a 73% drop in its pre-tax profit for the first three months of this year.

The debt facility gives Generation a total of C$740 million for mine and mill construction.

The Kona open pit and underground deposit hosts total indicated resources of 3 million tonnes grading 1.4% copper, 0.7 g/t gold and 4 g/t silver.

The La Romanera deposit is part of the company’s 100%-owned Iberian Belt West project in southern Spain.