Move is a bid to reverse the cancellation of mineral leases for the company's proposed copper and nickel mine.

The Horne smelter is the only copper smelter still operating in Canada.

Also weighing on industrial metals are aggressive increases in interest rates by the US Federal Reserve.

Inflation data in Germany and Japan and statements from European and US central bankers suggest that rapid, economically damaging interest rate rises will continue.

The IMF forecast that global growth could slow to 2.9% in 2023.

Las Bambas, whose operations have often been disrupted by protests from neighboring indigenous communities, accounts for 2% of global copper supply.

"Projected annual shortfalls will place unprecedented strain on supply chains. The challenges this poses are reminiscent of the 20th-century scramble for oil".