McEwen currently owns around 3.3% of the company.

The miner reported total preliminary output of 940,000 ounces of gold and 40,000 tonnes of copper in the three months ended March 31.

If developed, the mine would supply more than a quarter of US copper demand for the renewable energy transition.

Aurous is also looking for mergers and acquisitions opportunities in South Africa, and the continent.

The proposed mine could produce 30,000 metric tons of lithium hydroxide per year.

Goldman Sachs also said it did not expect an immediate supply shock.

CME Group has suspended from its platform aluminium produced in Russia from April 13

Record prices pushing toward $2,500 an ounce are proving hard to resist.