Copper concentrate is usually processed into refined metal for use in the construction and power industries. The People’s Republic of China is the largest buyer of raw materials such as scrap and concentrates, and is also home to about half of copper smelters globally. Since 2023, copper smelters in China have been grappling with concentrate shortages after First Quantum forfeited the right to operate its Cobre mine.
In 2022, the output of this mine, valued at $10 billion, made up 1% of…
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