The Ozernoye mine had drawn the attention of traders including Trafigura Group and Open Mineral.

The two have created a joint venture to co-develop a hydrogen fuel cell power module for the 930E electric drive mining truck.

Jubilee said it had secured IRH's investment to process an estimated 350 million metric tons of copper waste rock.

This financing package funds the advancement of Warintza through studies and permitting, Solaris said.

Peru's copper output was hampered early this year by production pauses triggered by violent anti-government protests.

New company represents a graduation of AI sensor technology being developed for almost a decade and which has now reached commercial viability. 

A forecast surplus of copper going into 2024 has suddenly all but disappeared.

The renewal would allow Freeport to begin work on a definitive feasibility study for what it calls one of the world's largest undeveloped copper resources.