Ramp-up in green policies supportive of battery metals.

Shares of Candente Copper surged 13% by midday Tuesday.

The energy group plans to form a joint venture with Aura Minerals' controlling shareholder to explore iron ore.

Union members at the sprawling deposit initiated early talks weeks ago but have yet to accept a deal on a new contract to the replace the current one.

President Pedro Castillo has singled out the Tia Maria project as a non-starter under his administration.

The issue has risen to prominence recently as the desert expands south amid a decade-long drought in Chile.

Copper prices are tumbling as miners in the top producing nation gird to fight for bigger bonuses, setting the stage for labor strife that raises the risk of supply disruptions.

Brazil's National Mining Agency estimates that wildcat gold miners extract some 30 tonnes of gold annually from the Tapajós river using toxic mercury.