One of the world's largest copper mines has suffered recurrent disruptions from indigenous Peruvian communities who say its vast mineral wealth has not translated into better living conditions.

The Colombian Mining Association president said even the modified bill put an undue tax burden on miners, citing what was a 90% effective tax rate.

New report by Fitch Solutions forecasts over 7 million tonnes will be added to global copper production through 2031 as a raft of projects in Chile, Peru and Congo come online.

BHP said it will invest $12 million on exploration in the next 10 months and is evaluating six potential projects.

The government has agreed to back continued royalty deductions in exchange for raising income taxes on extractive industries by 5%.

Units of Argentina's state oil firm YPF will start work on a 20,000 hectare area lithium prospecting project in Fiambala.

Anglo says 300,000ktpa Peru mine has entered commercial production. Chile output and costs negatively affected by Los Bronces water restrictions and changing ore.