The White House initiated a Section 232 investigation in February, allowing the president to impose tariffs on national security grounds. Trump stated that a “robust” assessment confirmed the need for tariffs to safeguard US copper production.

Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

Chile, the world's biggest copper producer, said Wednesday it was awaiting an "official" follow-up on US President Donald Trump's announcement of a 50 percent tariff on imports of the metal.

Chilean copper mines had their best month of export revenue in more than three years in June, with the increase in value outstripping price gains in a sign of rising production.

US President Donald Trump on Tuesday announced a 50% tariff on copper imports and stated he was considering a 200% tariff on pharmaceutical products if manufacturers do not move their operations to the United States.

Proximity to Super Copper’s other Chilean asset, the Cordillera Cobre project, creates operational efficiencies.

Some 32% of global semiconductor production could face climate change related copper supply disruptions by 2035, quadrupling from today's levels, advisory firm PricewaterhouseCoopers (PwC) said in a report for business leaders on Tuesday.