Mining Press Roundup: Deadly Landslide at El Teniente Deepens Chile's Copper Supply Worries

A deadly landslide at Codelco's El Teniente mine has added to mounting supply concerns in Chile, the world's largest copper producer, MINING.COM reported. The state-owned miner said the El Teniente open pit remained shut on Tuesday, while underground operations and processing plants kept running normally. The accident lands on top of a strike at Antofagasta's Centinela mine and a fatal accident at BHP's Escondida, so the market is weighing several Chilean disruptions at once. Elsewhere, Europe, Brazil and the US took further steps to build critical-minerals supply outside China.

Codelco: Landslide Shuts El Teniente Open Pit

El Teniente sits in the Andes about 75 km southeast of Santiago. MINING.COM describes it as the world's largest underground copper mine and Codelco's biggest operation. Codelco said the underground workings and the processing plants were unaffected, which limits the immediate hit to output even with the open pit idle.

The landslide also complicates Codelco's longer-term plans. MINING.COM reported that the company recently suspended its Andes Norte project at El Teniente because of deep seismic risks, which clouds plans to develop new production areas. The mine's geology is now a problem for both current operations and future growth.

Antofagasta: Centinela Strike Nears a Possible End

An almost week-long strike at Antofagasta's Centinela copper mine could be nearing an end, MINING.COM reported, after two unions resumed negotiations with the company on Tuesday. More than 700 workers walked off the job on Oct. 7, after mediation overseen by Chile's Labour Inspectorate failed to resolve the dispute.

The stoppage is the first at the mine and only the second in Antofagasta's history. Centinela produced 240,400 metric tonnes of copper last year, so a quick settlement matters to the company's output.

Labour tension extends beyond Centinela. At BHP's Escondida, the world's largest copper mine, supervisors are in government-mediated talks aimed at averting a strike. The operation also suffered a fatal accident that temporarily halted activities.

GEM Mining Consulting: Chile's Exposure Quantified

GEM Mining Consulting's first Production-at-Risk Index assessed 14 major copper operations across eight threats, with scores ranging from 2.6% to 9%. GEM found that an average of 5.2% of production at Chile's largest copper mines is at risk from strikes, severe weather, accidents and geological problems. El Teniente ranked highest at 9%, followed by Los Pelambres at 8% and Escondida at 7.5%.

GEM also said Chile produced 9.3% less copper from January through July than in the same period in 2025. July output sank to its lowest monthly level since 2011. The firm stressed that the index is an exposure measure, not a forecast that 5.2% of production will necessarily disappear.

Investment bank Panmure Liberum offered a counterpoint on prices. It estimates reported 2025-26 mine disruptions, including Grasberg and Kamoa-Kakula, at 350,000 to 400,000 tonnes of contained copper annually. That is only 30% to 50% of published disruption allowances. "Therefore, the dominant price driver is probably speculative/financial," Panmure Liberum said in a note.

Eldorado Gold and KGHM: Brussels Backs Two Copper Plays

The European Commission granted strategic status to Eldorado Gold's Skouries copper-gold mine in Greece, with Eldorado announcing the designation on Oct. 9. Skouries is among 46 projects selected under the EU's Critical Raw Materials Act. The status brings faster permitting and help in bidding for public and private funding, but not immediate money from the Commission.

Skouries recently produced its first copper-gold concentrate and is looking to start commercial production by the end of 2026. Construction was suspended for four years between 2017 and 2021 amid permitting delays and local opposition. The mine aims to produce about 140,000 oz. of gold and 67 million lb. of copper annually.

KGHM Polska Miedz also won strategic status for two copper projects worth a combined 9.5 billion zlotys ($2.44 billion). The designation covers the Retków-Grodziszcze mining project and the conversion of KGHM's Legnica smelter into a recycling facility, the company said Friday. KGHM plans to extract more than 100 million tonnes of ore from Retków-Grodziszcze by 2055, producing nearly 1.5 million tonnes of copper and more than 5,000 tonnes of silver. The designation does not guarantee substantial financial assistance for either investment.

Lynas Rare Earths: Brazil Separation Plant on the Table

Lynas Rare Earths has presented plans to build a rare earth oxide separation plant in Brazil's Minas Gerais state, Mines and Energy Minister Alexandre Silveira told MINING.COM. The plant is part of Lynas' expansion into Brazil through its $672 million acquisition of Meteoric Resources. Meteoric's Caldeira project hosts one of the world's largest known ionic-clay rare earth deposits outside China.

"We could have on Brazilian soil one of the largest industrial rare earth plants outside China," Silveira said. State development bank BNDES is evaluating potential financing, according to people familiar with the discussions. Lynas itself was more cautious. A Lynas spokesperson told MINING.COM: "We have made no commitments to date but will actively assess opportunities for further investment in Brazil."

Meteoric's definitive feasibility study estimated initial development capital at approximately $498 million for Caldeira, excluding the cost of a separate large-scale oxide separation facility. Caldeira is designed to produce an average of about 12,500 tonnes of total rare earth oxides annually over a 23-year mine life.

Hertha Metals: Texas Plant Targets Magnet-Grade Iron

Hertha Metals has broken ground on Hertha Chalyx, its first commercial plant, in Conroe, Texas. The plant is designed to produce about 10,000 metric tons a year of steel-grade and magnet-grade high-purity iron combined. The roughly $100 million project is funded by a $133.65 million Series A, which included a $65 million equity investment from the US government.

The target is a concentrated supply chain. An estimated 94% of the high-purity iron for NdFeB magnets is made in China. Chalyx is expected to come online in late 2027, with magnet-grade production beginning in early 2028.

Fortuna Mining: Diamba Sud Drilling Backs Up the Case

Hole DSR1149 in the Southern Arc zone at Fortuna Mining's Diamba Sud project in Senegal cut 40.8 metres of 3.9 grams gold per tonne from 228 metres downhole. Hole DSR1128 cut 12.8 metres of 7.8 grams gold from 103 metres downhole.

Diamba Sud holds probable reserves of 20.5 million tonnes grading 1.75 grams gold, for contained metal of 1.15 million oz. gold, according to an estimate dated April 2026. A June feasibility study gave the project a net present value of $1 billion after tax and a 60% internal rate of return, using a 5% discount rate and a gold price of $3,500 per oz. Fortuna is targeting a final investment decision this quarter, and gold production should start in the second quarter of 2028.

What It Means

Chile is the day's central story. A landslide, a strike, a fatal accident and wage talks all hit its largest copper operations, and GEM's index puts numbers on that exposure. Panmure Liberum cautions that reported disruptions are small next to published allowances and that speculative money may be driving prices. Both points can hold at once. Market data showed the COPX copper-miners ETF at $85.35 at the October 12 close, down 0.5%.

The second theme is the push for supply outside China. Brussels is fast-tracking permitting for Skouries and KGHM's projects, Brazil is courting Lynas, and Washington is a direct equity investor in Hertha's Texas plant. Each of these comes with a caveat. Strategic status does not carry guaranteed funding, Lynas says it has made no commitments, and Hertha's plant is years from magnet-grade output. The policy momentum is clear, but the tonnes are still some way off.

This roundup covers press releases published on October 13, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.