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The charges tend to fall when ore supply declines and rise when more concentrate is available.

The Alacran project is pegged as the Colombia's next major copper-gold mine.

Jose Raul Mulino said a government report shows there are no immediate environmental or safety risks from Cobre Panama.

The raw materials bill for the average EV is now down to $510 compared to a peak of more than $1,900 at the beginning of last year.