Higher prices should provide an incentive for miners to maximize output next year, potentially alleviating some of the strain on supply, said Freeport VP of Marketing Javier Targhetta.

Company sealed an agreement to buy Empire Metals' share in the Bolnisi copper/gold project for C$7-million.

Gold has been trapped between $1,930 and $1,880, and will take cues from the election.

Company should keep its dividend payments for 2020 to a mininum level, co-owner and top shareholder Vladimir Potanin told Reuters.

Zinc price touched a high of $2,596.50 per tonne last week, while lead has been moving in the opposite direction and is now the clear under-performer of the LME.

The top diamond miner by output wants better rough diamond allocation and streamlined production processes.

ICSG estimates a deficit of about 50,000 tonnes of copper this year and a surplus of about 70,000 tonnes in 2021.

Europe's largest copper producer, expects to achieve its earnings forecast this year despite the economic damage from the coronavirus crisis, its CEO said on Friday.