Codelco chairman has said the company is reassessing the costs of upgrades to the life of its mines.

Ivan Vella, who has spent two decades at the mining giant, was already due to leave the company in December.

Composed of manganese, nickel, copper, cobalt and other trace minerals, polymetallic nodules hold some of the key ingredients needed to fuel the energy transition.

“We are not very optimistic about copper prices,” said the head of copper trading at Shanghai Wooray Metals.

PT Amman Mineral climbed as much as 2.5% to a record high after MSCI announced it will be added to its global standard indexes.

In the first five years of operations, the new project will produce 455,000 oz. of gold annually.

The city has long been a key conduit for bullion entering the Chinese mainland — the world’s biggest consumer market.

BMW sources a fifth of its cobalt supplies from Morocco.

Beijing plans to provide at least $137 billion in low-cost financing to the nation’s urban village renovation and affordable housing programs.