Copper

SGS가 6월 19일 정부 의뢰 감사 결과 제출. 파나마는 6월 마감 시한 이후 완전 광산 재개 여부를 판단할 예정이며, 2023년 이후 연간 33만 톤의 글로벌 공급이 여전히 중단 상태

The DRC set CMOC's 2026 cobalt export quota at 31,200 tonnes against 117,549 tonnes produced in 2025; a June 1 work stoppage at TFM raises copper output risk as CMOC guides 760-820 kt for the year

A September 2025 ore pass mud rush placed the block cave under force majeure; Freeport revised full-year copper to 3.1bn pounds and gold to 650,000 oz; Morgan Stanley downgraded on recovery uncertainty

Vale Base Metals reported record Q1 copper output and near-record nickel as it advances a joint venture with Glencore in the Sudbury Basin; $5.4-5.7 billion in capex is planned for 2026 as Vale pursues strategic separation of base metals from iron ore

The December 2025 smelter first fire at 60% of 500,000 tpa design; Q1 anode output was 71,417t; sulphuric acid output of 1,350t/day feeds local fertiliser plans; Codelco-Glencore are studying a 1.5 MTpa Chilean smelter for 2032

BHP's H1 FY2026 copper output set a company record driven by Escondida throughput gains and Olympic Dam smelter recovery; BHP signed a 30% equity LOI in Faraday Copper and resolved a China CMRG concentrate pricing dispute in April 2026

The Mutanda-KCC stake transfer gives Washington indirect control over two of the DRC's largest mines; a six-month Takeover Panel cooling-off period on the Rio Tinto mega-merger expires in August 2026

The Allied Gold deal, announced January 26, 2026, adds African gold assets in Côte d'Ivoire, Mali, and Ethiopia to Zijin's portfolio; Julong Phase 2 in the Gangdese Belt triples Tibetan copper capacity and is the world's highest-elevation large copper mine

Antofagasta and Chinese smelters settled 2026 annual TC/RCs at $0/t; spot charges went negative to -$70/t, forcing China's top smelters to cut output 10%