Konkola Copper Mines, a subsidiary of London-listed Vedanta Resources, has shut down its gigantic Nchanga Smelter in the city of Chingola, located in Zambia's Copperbelt Province.The closure, which is expected to last for 40 days, is explained by the company as a needed maintenance measure, which will debottleneck the smelting stream to its capacity and result in a 35% rise in production.KCM will...Read More
The Philippines is considering extending a ban on new mines and will review all environmental permits previously granted to companies operating in the country, the mining minister said Friday.Miners had hoped some of the restrictions imposed in 2012 would have been lifted following the audit that finished in August. Instead, they are getting worse.The move is part of Manila's increasing efforts to...Read More
Chile's environmental regulator SMA is seeking sanctions against Antofagasta's (LON:ANTO) Los Pelambres copper mine for breaching its environmental permit in relation to the management of water resources and nearby flora.The alleged violations include the extraction of water from unauthorized sites, the construction of unapproved wells and the failure to reforest some areas as required by law.Th...Read More
Three NGOs, the Venezuelan Program for Education and Action in Human Rights-Provea, the Peace Lab, and the Working Group on Indigenous Issues at the Andes University, issued a statement blasting Nicol??s Maduro's government's push to exploit mineral resources on ancestral lands in the Bol?-var, Amazonas, and Delta Amacuro states. They are joining their voices to those of other organizations, such...Read More
Copper for December settlement on the Comex division of the NYMEX closed Thursday down 5.45 cents or 2.5% to $2.1220 per pound. Earlier, the contract slid to $2.1165 per pound, the lowest since September 13.The red metal's performance has been lacklustre managing only a 2.2% gain in 2016, following a drop of 26% last year.The recent fall is the consequence of China's September trade data, which sh...Read More
Shares in Azerbaijan-focused miner Anglo Asian Mining (LON:AAZ), the country's top gold producer, took a hit Thursday after it reported its January-September output was lower than in the same period last year, adding it was cutting its 2016 production target.The company produced 49,874 ounces of gold in the nine months to September, or 7.8% less than in the same quarter last year. As a consequence...Read More
Mining companies once again make up over 50 % of the total market capitalization on the TSX Venture Exchange, up from 36% on June 30, 2015, according to PwC Canada's 2016 Junior Mine report, Signs of Life. For the past 12 month period between June 2015 to June 2016, cash flows from financing activities increased significantly and cash flows from debt and equity financing increased to 45% and 48% r...Read More
While not expecting a boom, BMI Research in a new report is positive about the medium-term growth outlook for Iran's mining industry following the lifting of decades old Western sanctions at the beginning of the year.Over the next five years, new investment from Europe and Asia will accelerate the growth of the Middle-Eastern nation's mining sector, which contains vast underdeveloped reserves but...Read More
New permits issued to Seabridge Gold's KSM project in northern British Columbia marks an important step forward as the Toront0-based company transforms the world's largest undeveloped gold project by reserves into an underground mine.Seabridge announced on Tuesday it has received the necessary permits from the BC Government to develop an exploration adit into the large Deep Kerr Deposit at its...Read More
On Tuesday, nickel exchanged hands for $10,490 a tonne in London holding onto most of its 3% overnight gains. The nickel price has now advanced 20.7% in 2016. Measured from its multi-year trough of $7,725 a tonne struck in February, the price of the metal mainly used in steelmaking is up 38% thanks to a ban on exports from former top supplier and a crackdown on mining in the Philippines.Nevert...Read More
After a 10-day strike that hit Freeport-McMoRan's giant Grasberg open pit copper and gold mine in the Indonesian province of Papua, operations went back to normal on Monday.According to Reuters, the company's Indonesian division and representatives of the PT Freeport Indonesia Chemical, Energy and Mining Workers Union finally reached an agreement related to bonus payments in dispute. Close to 1,00...Read More
The world's No. 1 mining company BHP Billiton just got a rejection letter from Australian SolGold, regarding its offer to buy a stake in the company to gain exposure to its copper-gold Cascabel project in Ecuador.On Saturday, BHP presented an investment program that included $30 million for a 10% stake in SolGold and an additional $275 million related to the acquisition of a 70% stake in the unit...Read More
Amid a broad rally in mining and metals, the red metal's performance has been lacklustre managing only a 2.2% gain in 2016, following a drop of 26% last year.Chile is responsible for nearly 30% of the world's primary output of copper, with annual production of some 5.8 million tonnes.In August, Chile's Codelco said it may soon change its focus from cost reductions to output cuts, with the chief...Read More
"There is a real risk that the plaintiffs could not be provided with justice in Eritrea," said Justice Patrice Abrioux in a ruling that allows three refugees to proceed with a civil lawsuit against Vancouver-based Nevsun Resources.In an unprecedented decision, the British Columbia Supreme Court rejected the miner's request to dismiss the case and allow it to proceed in the African country. "Canadi...Read More
Nevsun Resources Ltd. ("Nevsun") (TSX: NSU) (NYSE MKT: NSU) advises that the British Columbia Supreme Court has refused to permit a claim against Nevsun to proceed as a common law class action. The court did permit the lawsuit by the three named plaintiffs to continue.Today's court decision addresses only preliminary legal challenges to the action raised by Nevsun. The judgment makes no findings w...Read More
Plan Nord has long been touted as the catalyst to unlock the economic potential of Quebec's vast north and kick-start much-needed investment in the area's remote communities. Despite the uncertainty around global metal prices, Quebec Premier Philippe Couillard has thrown his support behind a project that has the potential to be transformational for the north of his province. The scale of investmen...Read More
Why is zinc expected to see significantly higher zinc prices later this decade?A spate of scheduled mine closures, an underdeveloped project pipeline and steady demand growth is expected to provide the basis for significantly higher zinc prices later this decade.In 2015, the world's largest zinc miner, Glencore, made the decision to cut production by the equivalent of 4% of global output. As a con...Read More
Why is zinc expected to see significantly higher zinc prices later this decade?A spate of scheduled mine closures, an underdeveloped project pipeline and steady demand growth is expected to provide the basis for significantly higher zinc prices later this decade.In 2015, the world's largest zinc miner, Glencore, made the decision to cut production by the equivalent of 4% of global output. As a con...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Why is zinc expected to see significantly higher zinc prices later this decade?A spate of scheduled mine closures, an underdeveloped project pipeline and steady demand growth is expected to provide the basis for significantly higher z...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Why is zinc expected to see significantly higher zinc prices later this decade?A spate of scheduled mine closures, an underdeveloped project pipeline and steady demand growth is expected to provide the basis for significantly higher z...Read More