Fund managers have rushed to buy copper after the price broke up out of its one-year trading range earlier this month.

A record delivery of lead into LME warehouses in Singapore has underscored the city state’s emergence as a dumping ground for surplus industrial metals.

Under the agreement, initial production from Crean Hill would be shipped to Vale's Clarabelle mill in Sudbury for processing.

The production will be supported by high-grade ore from Phase 7 at its Batu Hijau mine.

MAC and the Copper Mark are merging their respective assurance processes for pilot testing by MAC members undergoing TSM verification in 2024, with the Copper Mark secretariat managing the assurance process.

Commodities have done well in the past five easing cycles, a senior analyst said.

The investment will fund further drilling, studies, and test work at the Arthrath project in Scotland.

It's the second application for a concession Nexa has submitted in the last eight days and it targets the mineral-rich Cajamarca region.