Oyu Tolgoi is one of the world's largest-known copper and gold deposits.

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Stardust copper-gold property is northeast of Smithers.

Goldman Sachs analysts said the current price strength “is not an irrational aberration” but rather “the first leg of a structural bull market in copper.”

The company's application for permits under the Clean Water Act and other federal statutes was denied last week.

Metal is well placed to benefit from the decarbonisation targets of some the world's biggest economies including top carbon emitter and top metals consumer China.

The confluence of factors turning producers into cash machines is also emboldening workers in Chile, raising the risk of stoppages in a hectic period.