Authorities plan to award five copper exploration blocks by the end of June in Cordoba and La Guajira provinces.

Mining executives view higher demand for the metal as an opportunity for the industry to improve its image.

China's Ministry of Ecology and Environment has urged the country's top steelmaking city – Tangshan – to crack down on violators of air quality rules.

The company believes price of the red metal is likely to hover at $3 or more per pound.

Iron ore production capacity at the site should return to 12 million tonnes a year once the commissioning period is over.

The price of spot iron ore for delivery to north China has fallen in recent sessions as the market struggles to work through a competing series of both bullish and bearish factors.

The South American nation better known for its coffee and crude is also a major supplier to European coal-fired power plants.

The South American nation has been losing market share as new frontiers open up ahead of an expected tripling of demand for lithium.