Mining the minerals needed globally for the energy transition is not keeping pace. 

Though metals mining and production is expected to grow 7.0% this year, private investment - largely in mining - is expected to drop 4.5% this year.

For years, the Loma Larga project has faced strong opposition from local indigenous groups and communities.

Initial assessments indicate a potential inclusion of approximately 17.5 million tonnes of mineralized material from the Roger deposit into Opemiska's open pit development strategy.

Shares of PT Amman Mineral International are up 153% since their debut on July 7.

The company said a competitive process to determine a successful bidder is under way.

The company wants to grow its annual mined metal output to 1.5 million tons, from around 1 million tons now.