Vale produced 66,800 metric tons of copper in 2023 in Sossego.

Officials on Tuesday reported the collapse at the Bulla Loca mine in Bolivar state in the south of the country.

China’s overseas investment in metals and mining as part of its Belt and Road Initiative surged by 158% last year, hitting $19.4 billion with energy transition metals the main focus.

Antofagasta earlier reported a rise of 2% in 2023 copper production, to 660,600 metric tons.

Vale is looking at expanding the use of industrial batteries to power ports and mining sites.

Horizonte Minerals is warning that it needs a whole new financing package to restart its nickel project in northern Brazil.

President Gustavo Petro came into office in 2022 on a pledge to wean the country off its dependency on fossil fuels.

One Reuters source said the situation was difficult to solve and a new vote had not been scheduled.