Russia and China trade new copper disguised as scrap to skirt taxes, sanctions

Cochilco said it was raising the estimate due to "factors like the normalization of monetary policy in the United States."

The Jan. 9 determination makes Norway the first country to formally authorize seabed mining activities in its waters.

Production for the last three months of the year was 358,000 metric tons, compared with about 384,000 tons in the fourth quarter of 2022.

The deal affects 658 people and includes incentives associated with meeting goals and improving productivity.

The scramble to secure supply has meant Chinese smelters have had to accept a cut in treatment charges.

Peru's production boost in the month largely came from a strong performance at Anglo American's Quellaveco mine.

“Everybody's been knocking on our door, trying to understand what we are doing, trying to see how we did it,” Marna Cloete said.

As supply chains tighten and long term demand drivers strengthen, resource-rich nations are looking to capture a greater share of their mineral wealth. 

Operating mines and development projects are expected to carry on as planned after the country stepped up security measures.