London Metal Exchange mulls adding warehouse in Hong Kong

The resource totalled 909 million tonnes grading 0.53% copper equivalent in the measured and indicated categories.

Industry leaders have pushed for two pricing structures for several years.

Prices for the metal fell for a sixth day, even after China announced a surprise interest-rate cut.

Africa’s second-largest copper producer is seeking to take advantage of what many predict will be a supply shortfall in the coming years.

Anglo plans to divest less profitable assets and focus on expanding copper output.

The global lead market has bifurcated since the start of June, with Shanghai prices significantly outperforming that of the LME.

The diversification strategy includes plans to expand into international mining to secure access to minerals including copper, cobalt and nickel, as well as lithium.

Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule. 

The decision will hit artisanal miners of metals such as gold and tin hard, as they are the region's dominant producers.