The Australian Stock Exchange notched up 42 IPOs in mining-related businesses over the past 12 months despite the Covid-19 pandemic.

The company and minority partner BHP have spent $2 billion but have yet to produce any copper.

"We’re here to talk about the revenge of the miners and how important it is that we sustainably mine copper metal for the new world economy."

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 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.