Copper price assumptions used in mining studies have climbed about 60% since 2020, with Plusmining’s review of 300+ reports showing base-case long-term prices rising from roughly US$3.00/lb in 2015–2020 to around US$4.80/lb by early 2026, still below spot levels above US$6.00/lb on the LME. Plusmining’s Andrés González notes assumptions remain tied to trailing averages rather than short-term spikes, as EVs, grid expansion and data centres reshape demand and declining grades and 17-year discovery-to-production lead times constrain supply. The stronger outlook is reviving previously uneconomic projects and driving portfolio reshaping, consolidation and renewed capital into copper resources.

Lithium Ionic has reaffirmed it holds “valid and registered title” to Brazilian mineral claims, including its Bandeira project in Minas Gerais’ Lithium Valley, citing independent legal opinions and National Mining Agency records that show no prior ownership by Emerita Resources. The clarification follows Ontario Securities Commission allegations that Emerita executives diverted Brazil’s Falcon claims into Lithium Ionic, with a hearing set for 8 May, though Lithium Ionic is not a respondent. Bandeira, near CBL and Sigma Lithium operations, has a feasibility study outlining an 18.5‑year mine life and 177,000 t/y of spodumene concentrate, positioning it as a near‑term producer.

Denarius Metals has made a non-binding all-share offer for Emerita Resources at about C$0.30 per share, a 15% premium to Emerita’s 10 April close, aiming to consolidate Iberian Pyrite Belt assets around Iberian Belt West (18.9 Mt indicated at 2.8% Zn, 1.42% Pb, 0.5% Cu, 1.28 g/t Au and 66 g/t Ag) with Denarius’ nearby Aguablanca nickel‑copper and Lomero polymetallic projects. The combined group would link Spanish concentrates to a Saudi refining JV with ProGrowth and cash flow from the Zancudo gold‑silver mine in Colombia (979,000 t indicated at 6.9 g/t Au and 84.4 g/t Ag). For project engineers, a deal could remove the need for a standalone IBW plant, shift processing to existing or restarted facilities, and potentially accelerate underground development at Lomero and Toral.