BIR Urges Urgent Industry Response as EU Waste Shipment Consultation Closes on October 16 中文快讯

Mercuria has reportedly agreed to provide up to US$250 million in prepayments to subsidiaries of Shanghai Jayson New Energy Materials Group, securing three years of copper supply from operations in the Democratic Republic of Congo, including the newly commissioned Kinga Kila project. The three operations produced approximately 56,000 tonnes of copper in H1 2026. The agreement highlights growing competition among global trading houses to secure African copper supply through prepayment arrangements. The parties have not publicly confirmed the transaction terms.

Idaho Copper Corporation’s updated preliminary economic assessment for its wholly owned CuMo copper-molybdenum-silver project estimates average annual contained-molybdenum production of 30.5 million pounds (about 13,835 metric tonnes) during the first 21 years of a 46-year mine life. Life-of-mine payable molybdenum is estimated at 906 million pounds (about 410,955 metric tonnes). Initial capital is US$1.169 billion, followed by US$658 million of expansion capital in year five. The company targets completion of a pre-feasibility study in 2028 and has not made a construction decision; the project is not current or near-term supply.