Canada’s Lundin Mining Halts Caserones Copper-Molybdenum Mine After Chile Storm

Jiemian News reported that Lundin Mining said on July 22 local time that severe winter storms in northern Chile’s Atacama region temporarily halted operations at its Caserones copper-molybdenum mine, while activity at the Candelaria complex was also disrupted to varying degrees. The company did not specify when production will resume.

Chile is the world’s largest copper producer, and the two mines have combined annual capacity of about 220,000 tonnes of copper equivalent. The supply disruption helped push LME copper higher overnight, with three-month copper rising 2.20% to $13,933 a tonne, its highest level since June. The body also said Tianhong Industrial Nonferrous Metals ETF (159157) recorded turnover of 76.7477 million yuan as of 11:04 a.m. on July 22, and its tracked CSI Industrial Nonferrous Metals Theme Index rose as much as 4% before trading up 3.01%; constituent stocks including Shengtun Mining, XYJ, and JCHX Mining Management advanced sharply. By July 21, the ETF’s fund shares had increased by 26 million over the past week.