Both Tianqi and Ganfeng said they’ll continue to acquire global reserves of the key battery material.

The most-traded May copper contract has gained nearly 5% so far this month.

The talks included topics such as the potential for state-run Jiangxi Copper to gain influence on First Quantum's board decisions.

Thirteen major smelters proposed a reduction of 5% to 10% in planned output this year.

IRH recently bought a 51% stake in Zambia's Mopani Copper Mines.

China's top copper smelters have proposed to cut production by 5% to 10%, according to Reuters.

Shrinking margins haven’t deterred Jiangxi, which plans to increase refined copper output this year by 11% to 2.32 million tons.

In 2023, Ottawa tightened foreign investment rules for the critical minerals sector, a year after forcing Chinese investors to sell their stakes in three Toronto-listed lithium firms.