The group made a provision of $37.3 million in its 2023 financial accounts after the deal to buy Brazilian tin went awry.

China's imports of zinc concentrates fell sharply over the first four months of this year in response to a tightening raw materials market.

Wuchan Zhongda Group, which had sales of $80 billion in 2023, bought 2,000 tons of refined copper from a Russian smelter that should have been delivered last month.

The initiative leverages the real-time Ambient Noise Tomography survey capabilities of Fleet Space’s mineral exploration technology on a large scale geophysical survey in New South Wales.

Global inactivity reached 25.4% on May 8, with seasonal maintenance closures remaining a key feature, Earth-i said.

The Tucumã open-pit mine is expected to produce 7,000 to 25,000 tonnes of copper concentrate this year.

The country, which produced 698,000 tonnes of copper in 2023, is targeting 3 million tonnes in annual output within the next decade.

MMG announced in March that it had completed a deal to buy Canada-based Cuprous Capital, the parent company of Khoemacau mine.