Access to the region in Northern Ontario is a challenge as paved roads are at least 300 km away.

The property now has indicated resources of 579 million tonnes grading 0.47% copper, 0.03% molybdenum and 0.05 gram gold per tonne for 2.7 million tonnes of copper, 150.000tonnes of molybdenum and 930,000 oz. of gold.

The country’s largest producer of the metal said it had halted production at its mining unit to comply with local government virus restrictions.

Las Bambas accounts for 2% of global copper supply.

China decided to stick with its Covid Zero policy, despite growing evidence that it’s threatening economic growth.  

“The war will likely dampen consumption of many base metals as supply chains are interrupted. Russia is a big player and it‘s not like others can quickly fill the gap,” CIBC mining analyst.