The reforms would require miners to give back at least 10% of profits to communities and disclose the impacts of their operations.

Zinc prices are down nearly 6% so far this year.

In February, the company was forced to stop operations at Grasberg after the mine was hit by floods.

The miner reiterated its annual forecast of 278 to 290 Mt for Western Australian iron ore output.

Demand for copper to build most electronic devices will exceed supply over the next decade and imperil climate targets unless dozens of new mines are built, analysts say.

The company seeks to counteract a drop in ore grades with "structural projects" and maintain production levels.

This marks the first time in over 40 years that there has been land access to the mine site.

Ivan Arriagada said fears of a global recession remain, but he expect a "soft landing" as long as Chinese demand held up.