Without western investors buying, all eyes are back on China, and a copper market that several industry insiders say is still the weakest they’ve ever seen it.
The US Geological Survey reports supply from copper mines in 2023 amounted to only 22 million tonnes. If the copper supply doesn’t grow this year, we are looking at a 6Mt deficit.
A passenger train on a test run by Chile's state rail operator collided with a private cargo train carrying about 1,346 metric tons of copper on Thursday.
The mining giant sees the potential to expand production capacity to about 500,000 tons of copper by 2028 mainly through improvements to its Salobo and Sossego mines in Brazil.
