Copper Mine Setbacks, page-4

Mt Isa Copper Mines- Enterprise, X41 and Black Rock - Glencore (100% owned)
Oct’23 - falling grades, becoming uneconomic
Production loss (complete closure) == 70,000 tonnes FY’26
*
Cobre Panama Mine - First Quantum Minerals
Dec'23 - Unconstitutional licence to operate
Production loss (complete closure) == 330,000 tonnes FY'24
*
Collahausi mine - Chile JV Glencore and Anglo American
Jul’25 - production issues
Production cut == 40,000 tonnes FY’25 ; FY’26 TBD
*
Quebrada Blanca - Teck Resources
Jul’25 - tailings dam issue
Production cut == 40,000 tonnes FY’25 ; FY’26 TBD
*
Kamoa Kakula - Ivanhoe Mines
Jun’25 - major seismic activity
Production cut == 150,000 tonnes FY’25 ; FY’26 TBD
*

These tonnages are hard to replace in the short term and point to the tightness in long term copper supply.

Note: Updated as of 26th July 2025

Total lost == 630,000 tonnes of copper