The LME is exploring whether to license a warehouse in Hong Kong as it seeks to strengthen services to clients in China.

The rare earths producer said it is also progressing pre-construction activities for its planned US rare earths processing facility.

The KCM assets have also attracted interest from other investors, said Vedanta's chief executive for base metals.

Rising global exchange stocks of copper have damped bullish spirits.

The agreement has the potential to be a multi-year offtake deal of up to 100,000 metric tons.

Eramet said it will continue to evaluate potential investments in the nickel electric vehicle battery value chain in Indonesia.

The bond sale could climb to $1 billion depending on the response from investors, Bloomberg sources say.

Both mines with a combined capacity of 3 million metric tons are located in the eastern state of Jharkhand.