The projection comes on the back of record output in 2023.

A senior Indonesian mining ministry official said the country was working to accelerate the approval process.

The overseas sales rose to 10,722 tons in February, compared to 3,973 tons in December.

Transaction volumes of iron ore at major Chinese ports climbed by 66% from the previous session.

Last year, Beijing issued a total of 111,000 tons of mining quotas for tungsten concentrate, a year-on-year rise of 1.8%.

Coal production dropped 4.2% from a year earlier for January and February combined, the first year-on-year decline since September 2021.

Total shipments from top producers Australia and Brazil dropped 12.5% week-on-week in the week ended March 18.

Weighing as little as one gram, the beans are increasingly viewed as the safest investment bet for young Chinese in an era of economic uncertainty.