BHP, Kingsrose to jointly explore Norway and Finland

The Ambler project sought to open a remote area rich in copper, zinc and lead and could yield deposits of rare earths.

The Arizona mine would, if developed, over its life produce more than 40 billion pounds of copper and supply more than a quarter of US demand.

McEwen currently owns around 3.3% of the company.

Jeremy Weir made his comments Tuesday during a presentation at the CRU World Copper Conference in Santiago.

The performance was due in part to a 219.4% production boost from Glencore' Antapaccay.

Mining companies and industry groups have complained about the extensive permitting process in Chile.

For the wider mining industry, the story of First Quantum in Panama has become a cautionary tale.

Brazil's Para state has won its appeal to overturn a previous court ruling that had reinstated the mine's operating licence.

Nornickel intends to remain a "reliable supplier of products" and will continue to fulfil all its contractual obligations, said the company.