Foran is working towards completing a feasibility study for the project, which is about 60 km west of Flin Flon, Manitoba, before the end of the year.

The company now expects output to reach 54,000-56,000 tonnes for the year.

Copper mining stocks jump as copper price rally gains momentum and traders scramble for prompt delivery of metal.

Global copper production has expanded with populations and economies, especially in China, which consumed 54% of the world’s refined copper in 2020.

Major mining companies are looking to invest in countries they previously considered too risky.

Power shortages and factory slowdowns did not stop copper from rallying to its highest levels since the beginning of August.

The Zonia acquisition will give World Copper an advanced asset in the US.