As fears about disruptions in global supplies mount, China’s largest copper producers are pleading with the government to mine more of the metal both domestic and international. According to an article published on Wednesday by the state-run China Nonferrous Metals News.
In a meeting on Tuesday, Jiangxi Copper Co Ltd, Zijin Mining, Tongling Nonferrous Metals Group Co Ltd. And others asked appropriate authorities to begin a fresh round of ore exploring as soon as possible and start a new batch of mines for development. According to the newspaper.
The pressure by the market coincides with growing worries about the world’s copper supply. Which is utilise in construction and transportation as well as more and more in the quickly expanding renewable energy and electric car sectors.
The Chinese mining company MMG Ltd.’s Las Bambas copper mine in Peru said that. It has begun to scale back operations as a result of recent indigenous community blockades. Which have intermittently halted operations for months.
New Mines Needed
The largest copper producer in the world, Chile’s Codelco. Announced this week that it would extend maintenance work at its Chuquicamata smelter beyond its initial 90-day schedule to 135 days.
The largest consumer of copper worldwide, China imports around 25% of what it consumes.
The Chinese firms are claim to have stated at the meeting that mining companies should dig deeper and wider and strive to extend the life of their mines.
While smelting companies should accelerate the development of foreign resources and optimise their layout throughout the industry chain.
However, as nations struggle for control of vital resources, Chinese miners are encountering increasing difficulties internationally.
Three Chinese corporations were told this week by Canada to stop investing in Canadian resources, citing national security.
Last year, China imported 23.40 million tonnes of copper ore and concentrate while producing 10.49 million tonnes of refined copper.