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1) Freeport-McMoRan's CEO, Richard Adkerson, said that after Glencore's proposed $23 billion takeover of Teck Resources, more deals are likely to emerge. “Copper is a scarce commodity and when opportunities to grow in the copper business emerge for whatever reason I think you’ll see companies moving to take advantage,” he said. He also mentioned that the recent deals are part of the landscape going forward, especially when the industry is bullish on metal demand with the green transition. Adkerson has also said that it is focused on its own projects, however it keeps an eye out on deals.
2) Hudbay Minerals has announced that it has received confirmation from the Army Corps of Engineers (ACOE) that its pervious surrender of the Section 404 Clean Water Act permit for the former Rosemont project was formally accepted and revoked as requested. The company expects that it will receive its last 2 remaining state permits, an aquifer protection permits and an air quality permit from the Arizona Department of Environmental Quality, in 2023 for their Copper World project. Earlier in the year, Hudbay received approval for right-of-way, that will allow for infrastructure such as roads, pipelines and power poles. Phase 1 of Copper World is a 16-year standalone operation that requires only state and local permits. It will produce 86,000 tons of copper a year, according to the preliminary economic assessment that was released in June of last year.