Fire breaks out at Lundin’s Swedish underground mine

China’s Copper Smelter Purchase Team appears to be making good on promises of cutbacks with end-March inactivity at refiners jumping to 12.8% compared to 4.1% a year ago. 

The company also did not rule out the possibility of acquisitions, as long as they are in the Americas.

Larger copper, gold and molybdenum volumes boosted metals mining just over 17%, according to government statistics.

Aluminum jumped as much as 9.4% as the market opened, the most since the current form of the contract was launched in 1987.

The amount of metals required for each kilowatt of generation capacity has risen by 50% since 2010, according to the IEA.

The sanctions now leave the Shanghai Futures Exchange as the only major commodities bourse in the world to accept Russian shipments.

Proceeds from the offering, as OceanaGold had disclosed, will be applied towards debt repayment.

Codelco is aiming to produce between 1.325 million and 1.390 million metric tons of copper this year.

Codelco, Chile's top copper producer, has entered the lithium business mandated by the country's national lithium strategy, unveiled in 2023.