Prices of copper, considered to be an economic bellwether, rose by a quarter last year and are expected to continue their positive momentum in 2022 due to the metal's central role in the energy transition.
“The most likely outcome is an environment where commodity prices can settle from the extraordinary highs of 2021. But there are plenty of risks to this outlook," says Wood Mackenzie.
The appeals court ordered the Minnesota Pollution Control Agency to reconsider whether any groundwater runoff from the proposed mine would pollute navigable waterways.
The deal marks a positive development for Rio, which is reeling from Serbia's rejection last week of its proposed lithium mine as well as local opposition to projects in Ghana and the United States.
The company says the plant, which it will purchase for C$5.5 million, will significantly reduce the cost of developing its NICO cobalt-gold-bismuth-copper project.
