Shanghai Spot Copper Premiums Rise as Supply Declines and Downstream Buying Improves

The British Columbia Supreme Court has ordered provincial authorities to revisit the consultation process for Seabridge Gold’s KSM project, ruling that the government failed to adequately consult the Tsetsaut Skii km Lax Ha Nation before determining the project had been substantially started. With an estimated capital cost of C$8.8 billion, KSM is one of the world’s largest undeveloped gold-copper projects and hosts approximately 7.3 billion pounds of copper reserves. The ruling could introduce additional uncertainty to the project’s permitting and development timeline, highlighting ongoing challenges related to Indigenous consultation and environmental approvals in Canada’s mining sector.

Chile’s Sierra Gorda mine and BHP’s Spence operation have signed a memorandum of understanding (MoU) to evaluate collaboration opportunities in supply chains, operating processes and infrastructure aimed at reducing costs, improving efficiency and enhancing long-term competitiveness. Both operations are facing declining ore grades and increasing operational complexity. At the same time, BHP is advancing a concentrator expansion project at Spence, while Sierra Gorda is progressing an SX-EW project expected to produce approximately 30,000 tonnes of copper cathodes annually.