Trafigura CEO says copper must surpass $10,000 to meet demand

La Preciosa hosts one of Mexico's largest undeveloped primary silver resources and is located about 19km from the company's Avino mine.

Mansfield Consulting examined 14 potential critical mineral mines and two mine extensions, and found the long-term economic impact of operations over several decades could be nearly C$800 billion ($599bn).

The Opemiska project includes the former Springer and Perry copper-gold mines, operated by Falconbridge from 1953 to 1991.

The proposed mine in the Bristol Bay area would have become the largest copper, gold and molybdenum extraction site in North America.

Demand for raw materials is at record levels, inventories are low, and spare production capacity is largely “exhausted,” the veteran analyst said.

It produced 393,551 tonnes of the metal last year, an 18% increase from 2022, and it expects to churn out 440,000-490,000 tonnes this year.

A series of disappointments for the mining industry comes against the backdrop of weak commodity prices — although gold has been an exception.

Reclamation success achieved using class A biosolids on an EPA-designated Superfund site – but not without controversy.

The Suntracs construction union — which played a leading role in protests that led to the mine’s closure late last year — is planning a march at the mine site.