SHFE Copper 2604 Closes at 100,190 Yuan/mt, Narrowing Backwardation with BC Copper

[Yinman Mining Receives Land Approval for 2.97 Mtpa Expansion Project] Yinman Mining Co., Ltd., a wholly owned subsidiary of Inner Mongolia Xingye Silver & Tin Mining Co., Ltd., has received official approval from the People's Government of Inner Mongolia Autonomous Region for the construction land required for its 2.97 Mtpa expansion project at the Baiyinchagan Dongshan Copper-Lead-Tin-Silver-Zinc Mine in West Ujimqin Banner. The project has now met all conditions for construction and will soon commence site preparation and underground development. According to the project schedule, commissioning with ore feed is expected in Q4 2028. As the company's flagship producing mine, Yinman Mining primarily produces silver, tin, zinc, copper, lead, and antimony. Upon completion, the expansion pr

Codelco's newly appointed chairman, Bernardo Fontaine, said the Chilean state-owned copper producer will prioritize profitability over production growth as it works to improve operational performance. The company is conducting an external review of its strategy to identify efficiency gains and new opportunities. Facing approximately US$25 billion in debt and seven consecutive years of production below expectations, Codelco is seeking to restore investor confidence. Meanwhile, Jorge Gomez will officially assume the role of executive president this week to lead the company's turnaround efforts.