Millions of feet of copper wiring will be required for strengthening the world’s power grids, and hundreds of thousands of tonnes more are needed to build wind and solar farms.
The output cuts underscore the industry’s struggle with a shortage of feedstocks caused by recent mine production setbacks.
The metal headed for a third daily decline, with copper miners also under pressure as a risk-off mood took hold in broader equity markets.
The company plans to complete a definitive feasibility study for the expanded copper project by the end of 2025.
