The world’s second-largest miner wants to launch a pilot project at its Arizona operation with the idea of extending it worldwide.

Teck said it could see its Quebrada Blanca Phase 2 expansion project in Chile delayed, at a cost of up to $290 million.

Boss Elon Musk has a plea for mining companies: “Please mine more nickel.”

"It’s likely that miners will need to boost investment in local communities for some time as the full impact of covid-19 continues to play out."

In April, the Pentagon awarded Lynas Corp and MP Materials funding for rare earths separation facilities in Texas and California.

Silver prices have risen around 15% this week powered by low interest rates, resurgent investment demand, disrupted production and a recovery in industrial consumption.