China’s copper buyers flex muscles in Codelco contract negotiations

In 2022 consumption of many mineral commodities neared or exceeded pre-pandemic levels.

Demand shows little sign of improving, however, with Chinese import premiums falling.

Some of the biggest names in copper have found high-ranking political allies to support their efforts to get the metal added to a list of minerals deemed critical to the US.

Operations in the pit have been temporarily suspended until deemed they can resume safely.

Sprott has now launched six ETFs under its energy transition fund suite.

The facility in East Java will have a capacity of 1.7 million tonnes of copper concentrate.

The group reported a 52% surge in quarterly copper output to 244,000 tonnes thanks to the ramp-up of Quellaveco.

The Japanese trading house said reasons for offloading its interest in the Canadian mine included unstable operations, declining grades and increased risk of environmental liabilities.

“We believe that the early January direction is correct but that the timing is slightly off,” said Saxo Bank.