Codelco's Copper Surge and Strategic Lithium Moves

Chile's Codelco reported a 22% rise in copper production in April compared to the previous year. Chairman Maximo Pacheco expressed optimism about gaining Chinese regulatory approval for a joint venture with lithium producer SQM. Codelco's board is set to choose a partner for the Maricunga lithium project soon.

Copper production at Chile's state-owned Codelco saw a remarkable 22% increase in April compared to the same month last year, according to Chairman Maximo Pacheco's announcement on Tuesday.

Pacheco also shared his optimism regarding the likelihood of securing Chinese regulatory approval for a joint venture with renowned lithium producer SQM. This collaboration could signal a significant strategic move in the global lithium market.

Meanwhile, Codelco's board is on the verge of selecting a partner for its Maricunga lithium project. The decision, following binding offers received from international companies in March, is expected in the coming weeks or months, highlighting Codelco's proactive approach in the mineral sector.

(With inputs from agencies.)