Copper hits 10-week high as mine closure points to supply risk

Copper touched a 10-week high after the closure of a major mine in Panama highlighted future supply challenges for the red metal as the energy transition accelerates.

Panama’s government said it will shut the mine owned by First Quantum Minerals, damping hopes the company might be able to reach a new deal to keep it operating. The project, the subject of mass protests from environmentalists and labor unions, produces about 1.5% of the world’s supply of the industrial metal.