The victims, employed by private security firm R&R, had been dispatched to confront individuals involved in illegal mining when they were abducted by a criminal group attempting to seize control of the Poderosa gold mine.

The men were taken and held in a mine shaft, where they were threatened for days. According to local, a video circulated on social media —allegedly filmed by the captors— shows the guards being executed at point-blank range.

“Poderosa laments the death of the 13 workers who were cruelly murdered by criminals allied with illegal mining,” the .

Violence linked to illegal mining has escalated sharply in the region. In December 2023, illegal miners launched a coordinated attack on the Poderosa mine, using explosives that resulted in the deaths of nine individuals and left 15 others injured. A similar attack took place in April last year.

The mining company stated that 39 people connected to mining in Pataz have been killed by criminal groups since Poderosa began extraction in 1980, including the latest 13. Despite a state of emergency declared in April and a police presence in the area, the company says authorities have failed to act decisively.

Poderosa criticized the government’s lack of enforcement, saying police have refused to dismantle illegal mine entrances used as hideouts by criminal groups, despite their locations being well known.  

“It will not be possible to defeat criminality if, despite our repeated requests, the police continues to refrain from entering and interdicting the illegal mine entrances which are used as a base and shelter by criminals,” the company said said.

Poderosa also took aim at a government program that grants temporary permits to informal miners, allowing them to continue operations while they await formal legal status. The scheme, extended in November, has drawn criticism from industry groups and analysts who say it effectively shields illegal miners from prosecution.

Peru’s Interior Ministry confirmed that special police units had been sent to “locate and capture those responsible for these heinous crimes,” but gave no further details on the attack or its perpetrators.

Illegal gold mining in Peru has surged in recent years, driven by high gold prices. The illicit activity was worth more than $6 billion in 2024, according to the Peruvian Institute of Economics. The violence tied to it forms part of a broader regional crisis, with Peru, Ecuador, and Colombia all declaring or extending states of emergency this year in response to criminal activity linked to mining, narcotics, and extortion.

Following the company’s annual general meeting in Perth on Thursday, chief executive Jakob Stausholm said the board had discussed rare earths this week and would take a “serious look” at their potential role in Rio Tinto’s portfolio.

Stausholm said that as the company continues to optimize its iron ore operations in the Pilbara and advances developments like the Simandou iron ore project in Guinea, it’s also reshaping its aluminum, copper, and lithium businesses to support the energy transition.

“So you could say, the next thing is to look a little bit deeper on critical minerals, and you have to think about that, not necessarily as separate mines,” Stausholm told reporters. He noted critical minerals are often present in Rio’s existing operations as a by-product, so “it’s a question of whether we should process them more deliberately.”

Rio Tinto already produces scandium as a by-product of titanium dioxide in Quebec and is weighing the production of gallium from its aluminum operations. Stausholm noted that the absence of a robust spot market for many critical minerals means Rio must ensure demand before scaling up production.

Chairman Dominic Barton echoed the cautious approach, pointing to the limited scale of the sector. “That’s why you don’t typically see the top five [largest miners] in this space,” he said. But with global supply chain diversification becoming a priority, Barton said they are asking themselves whether they should revisit what they already have and assess the economics.

Barton also said critical minerals could help strengthen Rio’s social licence to operate. “It’s interesting how often those with fewer resources are the most vocal,” he added.

Tariffs, Canada and the aluminum market

On tariffs, Barton said Rio could compete under the current global framework, though the company isn’t enthusiastic about trade barriers. “We’re not excited about tariffs, but we’ve got to live with what governments are doing,” he said, adding that if they’re applied uniformly, the company “would manage” because of its position on the cost curve.

Barton welcomed the recent Canadian election results, suggesting they provided a mandate for continued negotiations. He praised the country’s recognition of aluminum’s economic importance, especially given Rio’s workforce in Canada.

As a former Canadian ambassador to China, Barton said China’s economy could absorb short-term tariff impacts.

“Urbanisation, GDP consumption rates, and green infrastructure investment all support long-term steel demand,” he said. “We expect a new equilibrium despite near-term discomfort.”

Working in the US

Stausholm highlighted Rio’s significant presence in the US, including the Kennecott copper mine and smelter in Utah, a boron mine in California, and the Resolution copper project in Arizona.

“The US government is very, very keen on seeing us getting the most out of those assets, so it provides opportunities to serve the US government,” Stausholm said.

He added that tariff policies wouldn’t necessarily affect Rio’s long-term investment decisions. Last month, the US government fast-tracked permitting for the Resolution project, and Stausholm said the joint venture with BHP (ASX: BHP) is moving forward.

“Unlike Australia, the US has seen limited mining development in recent decades—this represents a shift”, he said.

Activist campaign fails

A proposal from UK-based hedge fund Palliser Capital to force a review of Rio’s dual-listed company (DLC) structure failed to gain traction. The company rejected the motion, with Barton stating the board had already reviewed the structure in detail last year with advice from five external consultants.

“All of this work showed that a unification of the DLC would be value destructive for the group and its shareholders,” Barton said.

Only 19.35% of shareholders supported the motion. Under UK law, a 75% majority is required to mandate a review, while 20% support would have have required the company to engage further with shareholders.

The state-run miner said the deals will deliver 1.5 terawatt-hours of green power annually starting in 2026, sourced from Generadora Metropolitana — owned by Chile’s AME Group and France’s EDF — and GR Power Chile.

The contracts, awarded through a public tender, include lithium-ion battery storage and will run from January 2026 to December 2040. They will supply both current and future energy needs across Codelco’s operations.

“With these contracts, we are strengthening our plan to completely decarbonize our electricity grid by 2030,” chief executive RubĂ©n Alvarado said in the statement. “This reinforces the path towards sustainable mining, aligned with our purpose of being a pillar of sustainable development in Chile and the world.”

Codelco began its shift to renewables in 2018, renegotiating legacy contracts and launching new tenders to replace coal-based power with cleaner, cheaper, and more stable energy sources.

One of those renegotiations, with ColbĂşn and CTA, freed up capacity beginning in 2026, enabling a pair of tenders. The first, awarded in 2024, went to Atlas, Innergex, and ColbĂşn for 1,800 GWh per year. The second, sparked by a renegotiation with Engie (CTA), led to the agreements just finalized.

The shift is expected to cut annual COâ‚‚ emissions by 2.78 million tonnes, as Codelco replaces all remaining fossil-fuel electricity with renewables. The move also shields the company from potential carbon tax hikes and future regulatory costs.

Codelco currently consumes about 9% of Chile’s total electricity.

ľĹÓÎĎÂÔŘapk and The Northern Miner mapped global copper production through a geopolitical lens, dividing the world into five “spheres of control”: American, Chinese, Russian, Coalition of the Willing, and Undrafted.

These groupings reflect geographic, social, cultural, and economic ties—and possible alignments in a more polarized world.

America still ahead

The American Sphere leads with 48.7% of global copper output over the past five years, followed by the Chinese Sphere at 29.9%.

The Russian Sphere and the Coalition of the Willing each account for just under 10%, while 1.9% remains undrafted.

The bottom panel ranks top-producing countries, led by Chile, the DRC, and Peru.

(By Anthony Vaccaro; Files from: Ali Ravaghi; Creative: James Alafriz)

Chile’s state-owned miner produced 1.44 million tonnes of copper last year, compared to BHP’s attributable production of 1.43 million tonnes, according to estimates.

Codelco has been working to complete key projects that will unlock richer ore deposits in its aging mines. The company is also seeking additional investment, including early-stage discussions with Saudi Arabia.

The miner is also pursuing new technologies, including a rock-shattering technology developed by Robert Friedland’s I-Pulse Inc., which uses electricity to break rocks more efficiently.

Mine rehabilitation is a priority for Codelco, as declining ore quality requires the company to extract more material to maintain production levels.

Meanwhile, BHP is also investing $10.8 billion to modernize its aging operations in Chile, where it manages Escondida, the world’s largest copper mine.

Copper price surge

Demand for copper remains strong, with many rushing to ship the metal into the United States amid reports that a tariff on copper may be implemented sooner than expected.

Last week, New York copper futures reached a historic high of approximately $11,840 per tonne. By Monday morning, May copper contracts were trading down 2% at $11,066 per tonne.

At a recent Financial Times commodities summit in Switzerland, major traders predicted that copper prices could exceed $12,000 per tonne this year as global supply concerns intensify.

On Feb. 14, the company signed a letter of intent to buy all common shares of South Atlantic Gold in exchange for 38.5 million shares, valued at about C$2.7 million ($1.9 million). This deal merges two nearby Pedra Branca projects with similar geology, infrastructure and community ties.

“Bringing together these two projects is long overdue,” Paterson told The Northern Miner at the recent PDAC show in Toronto. “I’m juggling four deals right now,” he added, indicating the company’s busy pace as it focuses on unlocking platinum-group metals value in Brazil.

Watch the full interview below with The Northern Miner’s western editor, Henry Lazenby.

Joint venture videos are paid content arranged with The Northern Miner.