The company will make an investment of $12 million to redouble its efforts in Peru.

The world's largest copper producer will meet its financial obligations despite headwinds from operational problems and high levels of debt and investments, JPMorgan said.

The permit was for the Torr Metals' Latham copper-gold claim north of the Red Chris mine.

The company expects first drawdown to occur in early to mid-Q4 2023.

The Financial Times reported the metal was sold by UAE-based entity Haldivor Energy and exported through Turkey to Italy’s Livorno port.

The contract is under discussion in Panama’s legislative commerce committee.

Leftist President Gustavo Petro has made it his goal to wean the South American nation off its dependence on oil and coal exports.

The project aims to extend the exploitation of the mine for eight more years.