Unionised workers at mines in Peru, the world’s second biggest copper producer, started a nationwide strike on Wednesday to protest the government’s proposed labour reforms, the head of a federation of mining unions said on Wednesday.
Workers at 56 mining unions in the Andean country, including the top copper mines, are striking, said Ricardo Juarez, head of the National Federation of Mining, Metallurgical and Steel Workers of Peru (FNTMMSP).
Chilean authorities have approved a $2.5-billion expansion of BHP Billiton’s Spence copper mine, a local newspaper reported on Wednesday, though the company has not yet decided whether to go ahead with the project.
Chile’s Environmental Evaluation Service (SEA) has unanimously approved the project, which is the second-largest mining investment under evaluation in the South American country, the El Mercurio newspaper said.
This year marks ten years since the start of the global financial crises started in 2007, an event that shook global markets to the core and precipitating a changed market landscape for many commodities, including diamonds.
Independent diamond industry analyst and consultant Paul Zimnisky published a new blow-by-blow report chronicling the rise and fall, and the ensuing volatility the crisis has had on the global market for these precious gems.
Canadian gold producer Centerra Gold has been granted some interim relief in its rolling arbitration against the Kyrgyz Republic and State miner Kyrgyzaltyn, regarding the Kumtor project.
The TSX-listed miner reported on Wednesday that the arbitrator sided with the company, finding prima facie evidence that Centerra had made out both a case for the arbitrator to take jurisdiction over the arbitration proceeding and on the merits of the case.
Residents from Kingaroy in Queensland start a competition to show the rest of Australia what could be lost if a new coal mine is given the green light.
DENVER–(BUSINESS WIRE)–Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced the election of Sheri Hickok and Dr. Molly P. Zhang to its Board of Directors. Sheri Hickok brings significant engineering and technology experience, including autonomous vehicle and renewable energy development, to Newmont’s Board. She is currently General Manager – Global Product Development, Onshore Wind at GE Renewable Energy where she leads GE’s largest renewable energy portfolio. Prior to th
PITTSBURGH–(BUSINESS WIRE)–Alcoa Corporation (NYSE: AA): 2Q 2017 Results1 Net income of $75 million, or $0.40 per share Excluding special items, adjusted net income of $116 million, or $0.62 per share Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA), excluding special items, of $483 million, down 9 percent sequentially on lower alumina prices Revenue of $2.9 billion, up 8 percent sequentially, on higher shipments $954 million cash balance and $1.4 billion of deb
Responding to sluggish growth in domestic oil and natural gas production, the Indian government has brought national oil companies (NOCs) under stricter oversight, including daily reporting of production data from each field operated by these companies. The NOCs also have to submit to government data relating to reservoir production and performance every six months and to report the reserves of each field in operation once a year, according to one of a series of orders issued to NOCs over the past month.
South Africa’s worst kept corporate secret was confirmed on Wednesday, when Eskom reported a sharp fall in after-tax profits to R888-million in 2017, from over R5-billion in the previous financial year. However, the results were overshadowed by serious allegations of corruption and maladministration at the utility, which has become the focal point of claims of State capture by a predatory elite.
Mineral Resources Minister Mosebenzi Zwane on Wednesday gazetted a proposal to restrict the granting of any new applications for prospecting or mining rights and the processing of applications for the renewal of prospecting or mining rights. The proposal is also aimed at restricting the transfer of mineral rights between companies.
Africa-focused platinum-group metals (PGM) miner Ivanhoe Mines has appointed mine-financing institutions KfW IPEX-Bank and the Swedish Export Credit Corporation (SEK) to arrange project financing for the development of the Platreef project in South Africa’s Limpopo province. The German government-owned KfW IPEX-Bank and SEK will join Export Development Canada, Nedbank Limited – acting through its corporate and investment banking division – and Societe Generale Corporate & Investment Banking, all appointed earlier this year, as initial mandated lead arrangers (IMLAs).
Owning 100% of Gemfields will allow diversified mining company Pallinghurst to revitalise the coloured gemstones mining and marketing entity and to unlock synergies, Pallinghurst CEO Arne Frandsen said on Wednesday, when the London Stock Exchange aspirant commenced its compulsory take up of the remaining 7.62 % minority shareholding. “This will in turn strengthen and improve Gemfields’s operational and financial position,” Frandsen added in a release to Creamer Media’s Mining Weekly Online.
South Africa’s controversial nuclear energy plans have overwhelmingly overshadowed the more expansive, overall industry that has quietly developed in the country, which has become a world leader in nuclear medicine. Speaking at the one-day nuclear forum on the sidelines of the PowerGen Africa conference, on Wednesday, Nuclear Industry Association of South Africa MD Knox Msebenzi said it was in South Africa’s interest to stimulate the nuclear industry across the entire nuclear cycle.
DENVER–(BUSINESS WIRE)–Newmont Declares Quarterly Dividend of $0.075 per Share
The provincial government of British Columbia has issued Taseko Mines with a multiyear Notice of Work (NOW) permit that will allow the base metals producer to undertake a site investigation programme at the New Prosperity gold/copper mine. The mine project, which has been nixed twice by the federal government, has drawn the ire of First Nations impacted by the project, calling the move “shocking” and vowing to challenge the British Columbia-issued permits in court.
A scoping study into the Mardie salt project, in the Pilbara, has found that the project could support a production rate of between 3-million and 3.5-million tonnes a year over a mine life of 20 years.
ASX-listed BC Iron on Wednesday told shareholders that the scoping study estimated a capital cost of between A$225-million and A$255-million, with operating costs estimated at between A$19/t and A$21/t free-on-board, while Mardie was expected to generate average revenues of around A$45/t.
ASX-listed Metalicity has inked a memorandum of understanding (MoU) with China’s Minmetals Nonferrous Metals Company (CMN) for zinc and lead production from the Admiral Bay project, in Western Australia.
The MoU considered the supply of an initial 10% of future offtake from the 174 000 t/y of zinc and 115 000 t/y of lead expected from the Admiral Bay project, in exchange for metallurgical and beneficiation test work that would establish a pathway to invest in either Metalicity or the project, at a company or project level.
Dual-listed gold miner Perseus Mining has reported a 6% quarter-on-quarter increase in production from its Edikan gold mine, in Ghana.
The Edikan operation produced 51 563 oz of gold during the June quarter, bringing half-year production to 100 218 oz. The half-year production was up 32% compared with the December 2016 half-year.
Diversified major BHP has increased its production expectations for iron-ore, copper and metallurgical coal in 2018, on the back of solid results for the year ended June.
The miner on Wednesday reported that it had achieved production guidance at its petroleum and iron-ore divisions during the year ended June 30, with production records set at the Western Australian iron-ore operations, as well as two Queensland coal mines, and the Spence copper mine, in Chile.
Responding to sluggish growth in domestic oil and natural gas production, the Indian government has brought national oil companies (NOCs) under stricter oversight, including daily reporting of production data from each field operated by these companies.
The NOCs also have to submit to government data relating to reservoir production and performance every six months and has to report the reserves of each field in operation once a year, according to one of a series of orders issued to NOCs over the past one month.
Mining major BHP will invest A$350-million into its Olympic Dam operations, in South Australia, in a smelter maintenance campaign.
Olympic Dam asset president Jac
East Africa-focused Shanta Gold is undertaking a business review of its operational and cost base in Tanzania, where it operates the New Luika mine, following the introduction of new legislation and higher royalty rates. The Tanzanian Parliament earlier this month enacted the Natural Wealth and Resources Bill 2017 and the Natural Wealth and Resources Contracts Bill 2017, allowing the government to force mining companies to renegotiate contracts.
Australia’s state and territory leaders have recently endorsed the new 2017-2022 National Mineral Exploration Strategy at the Council of Australian Governments (COAG) meeting, a move which has been welcomed by Geoscience Australia.
Geoscience Australia pointed out that the mineral resources sector plays a vital role in Australia’s ongoing economic prosperity, and that the new strategy will ensure the continuity and longevity of this essential industry for the benefit of all Australians.
LONDON–(BUSINESS WIRE)–Triton Minerals plans to develop its Ancuabe graphite project in Mozambique to feed the established and high-growth expandable graphite market. In our view, this is a prudent way forward in a sector dominated by graphite companies tussling with the vagaries of battery-ready graphite production and an end-market yet to mature. With East African graphite deposits already advancing in many cases (AMG’s Ancuabe mine is now commissioned, Syrah’s Balama is under construction,
The Queensland state government has outlined plans to grow the states mining technology sector, with the aim of creating 3 000 additional jobs over the next ten years.
State Development Minister Dr Anthony Lynham released a ten-year action plan to make the state’s existing A$7-billion mining equipment, technology and services (METS) sector a world leader.
Australian gold miner Newcrest Mining has restarted production at the Panel Cave 2 (PC2) at its Cadia East mine, in New South wales, after completing a test and response phase.
The miner in June started the testing phase at PC2, after operations were suspended in April due to a seismic event.
Bauxite developer Metro Mining has successfully raised A$38-mllion to advance its Bauxite Hills project, in Queensland, after successfully completing an institutional placement book build.
The company on Wednesday said that the institutional placement, which had been priced at 13.5c a share, had been heavily oversubscribed, with strong support from both existing and new institutional investors.
The head of an advanced-materials manufacturer said he met with President Donald Trump’s chief strategist, Steve Bannon, on Monday to persuade him that the US should nationalise the country’s only mine of rare earth minerals, which are used in military applications.
“The staff understood the urgency of the matter,” Michael Silver, CEO of closely held American Elements Corp, said in a phone interview after his White House meeting, which he said was also attended by presidential deputy assistant Sebastian Gorka and White House chief of staff Reince Priebus.
The provincial government of British Columbia has issued base metals producer Taseko Mines with a multi-year Notice of Work (NOW) permit that will allow it to undertake a site investigation programme at the New Prosperity gold/copper mine.
The mine project, which has been nixed twice by the federal government, has drawn the ire of First Nations impacted by the project, calling the move “shocking” and vowing to challenge the British Columbia-issued permits in court.
A Brazilian federal judge of the Federal Court of Minas Gerais has for an indefinite time suspended a public civil lawsuit against Samarco Mineração over the miner’s tailings dam collapse in November 2015, the company said on Tuesday.
Vale the world’s largest iron-ore producer, said in a press release that the judge’s decision on Monday did not change the terms of a court decision that extended the deadline for Samarco parent companies Vale and BHP Billiton to negotiate a settlement to October 30.
Many WA mining companies are reliant on old computing technology leaving them vulnerable to cyber attacks, an expert warns, as the manager of a small business tells of the losses incurred after his company was targeted.
New analysis by the International Lead and Zinc Study Group (ILZSG) has found that demand for zinc grew by 1.14% during the first five months of 2017, with mine output rising 6.3% and refined metal up 0.4%.
In its latest report published on Monday, the ILZSG said that preliminary data it had recently compiled pointed to a global refined zinc market deficit of 178 000 t in the period, and total reported inventories declined by 167 000 t over the same period.
LIMA, Peru–(BUSINESS WIRE)–Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced that Mr. Gonzalo Eyzaguirre, Buenaventura´s Vice President of Operations, has been designated to serve as interim General Manager of Sociedad Minera El Brocal S.A.A. (“El Brocal”), Buenaventura´s subsidiary, effective July 19, 2017. Mr. Eyzaguirre, will maintain his responsibi
