European Metals & Mining Weekly: Copper projects. Ghana call. DeBeers restructure. RIO + ANTO + BHP production.

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European Metals & Mining Weekly: Copper projects. Ghana call. DeBeers restructure. RIO + ANTO + BHP production.

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European Metals & Mining Weekly

Copper projects. Ghana call. DeBeers

restructure. RIO + ANTO + BHP production.

Industry Overview

Mini primer: Copper project sampler 20 July 2026

We refreshed our study of a selection of (now) 43 copper growth options (greenfield & Equity

brownfield) across our coverage universe. We see compelling copper optionality at many Europe

companies but particularly highlight Glencore, Anglo American, Vale, Teck (diversified) & Non-Ferrous Metals,Mining &

MineralsLundin, Antofagasta, Freeport-McMoRan (pure plays). See also: Copper equity handbook.

(See: Mini Primer: Copper growth project sampler, 3rd edition) Jason Fairclough >>

Research Analyst

Ghana expert: Tarkwa renewal. Extension w/conditions? MLI+44 (UK)20 7995 0225

We hosted Bright Simons, a Ghana policy expert, for a discussion on Ghana's growing jason.fairclough@bofa.com

political/policy risk for gold miners. Next key milestone: GFI's Tarkwa lease renewal Kate McCutcheon >>

(potential announcement within the next few months). Simons' base case for Tarkwa: Merrill Lynch (Australia)

renewal with conditions (localisation requirements, infrastructure commitments etc.). Lawson Winder, CFA >>

(See: Ghana Gold Miners Expert Feedback: Options still on the table) Research Analyst

Merrill Lynch (Canada)

Metals Strategist: Copper demand resilient, supply issues ReinhardtResearch Analystvan der Walt >>

Tight copper mine supply has constrained refined copper production - a key reason MLI (UK)

prices have stayed resilient despite macro uncertainties. China's copper concentrate Paul Kirjanovs >>

imports have declined by 1% YoY YTD = lower refined production.