Vale buys remaining 45% stake in Alianca Energia for $541 million

The industry is laying part of the blame on temporary permits known in Peru as Reinfo, a registry that allows informal miners to operate with some legal protections while they formalize operations.

The state-owned ore processing company said it will be in a position to choose a partner for a sprawling lithium project by mid next year.

The nearly 400 employees represented by a Centinela workers union last month overwhelmingly rejected a contract proposal from Antofagasta.

Officials from state company Enami met with authorities and company representatives in China last month to discuss a $1.4 billion project to overhaul Enami’s smelter.

“The rule of the economics are going to drive the price, the rule meaning supply and demand,” said Vale CEO Bartolomeo.

The world's largest miner of the metal has struggled with operational issues and high debt.

Nickel production was estimated at 160,000 to 175,000 tons next year, against some 165,000 tons in 2023.

The company will partner with Chengxin and Yahua, suppliers of lithium hydroxide to Tesla, BYD, and LG.

The latest attack at Poderosa has highlighted a growing risk for miners in the Andean nation.