Goldman Sachs this week raised its 12-month target for copper to $11,000 a tonne, while Citi recommended clients take on bullish copper exposure over the next few weeks.

The first-round winner of Peru’s Presidential election, Pedro Castillo, wants to renegotiate contracts with mining companies rather than seize assets, a party official said.

The mining giant is exploring the use of bunker fuels such as liquefied natural gas and biofuels to replace fuel oil, aiming to reduce carbon emissions by 40% when shipping its products.

Philippine President Rodrigo Duterte has lifted a moratorium on new mineral agreements imposed in 2012, reopening the door to investments.

Goldman Sachs sees prices averaging $11,000 per tonne over the next 12 months.

The London-listed company aims to decrease its reliance on coal and steel and attract a broader base of investors by adding more battery metals.

Government has ordered Zijin Mining Group to halt work at a shaft at the RTB Bor copper mine and to complete a wastewater treatment plant after it failed to comply with environmental standards.