The Chinese government must mine more copper to shore up global supplies, Reuters reported Chinese copper producers as saying.
A group led by Jiangxi Copper Co Ltd, Zijin Mining, and Tongling Nonferrous Metals Group Co Ltd are pressuring Chinese government authorities to increase ore prospecting as soon as possible, state-financed newspaper China Nonferrous Metals News said Nov. 8. The companies made their plea in a meeting with mining authorities on Nov. 8.
The government should also open new copper mines, the newspaper said.
Mining companies also need to mine deeper and more broadly to find additional copper, while extending the life of their mines, Reuters reported the companies saying. The copper producers also urged smelting companies to accelerate overseas development, the companies reportedly said in the meeting.
China relies on copper imports to meet 25% of its demand. It is the world's top user of copper, a metal in high demand in the construction and transport sectors.
Chinese copper producers abroad have had many problems with production in recent months.
Chinese miner MMG has experienced drops in production at its Las Bambas mine in Peru, due to blockades by the community and ongoing tensions with locals.
In 2021, China produced 10.49 million tonnes of refined copper and imported 23.40 million tonnes of copper ore and concentrate, Reuters reported.