Copper exports from MMG's giant Las Bambas mine in Peru, which came online this year, are set to resume later this month or early November after a 10-day stoppage caused by protests against the operation came to and on Monday, the company said."The Government of Peru and local communities have agreed a framework for future dialogue and cooperation in the region," MMG said in the statement. "The pr...Read More
Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, suffered Monday morning after the firm logged a 18% drop in global retail sales of equipment for the three-month period ended in September.While the Peoria, Illinois-based company has had more discussions about potential sales in recent months than in the last two or thre...Read More
Copper bulls might be tempted to place buy orders after a protest at a Peruvian mine turned ugly about 10 days ago.That's because supplies needed to allow Las Bambas, one of the world's largest copper mines, to keep operating are running out because access roads are being blocked by protesters following a death on Oct. 14. The mine just came online this year."Community roads are currently blocked...Read More
Mining Watch published a statement today saying that KGHM's proposed Ajax mine in Kamloops, British Columbia could face over $100 million in litigation or compensation costs. Taking as an example what's happening at Canada's only other urban mine of comparable size, the Malartic open-pit mine in Quebec, the watchdog group presented what it calls "conservative estimates" on possible actions against...Read More
A 22-year-old man died early Friday morning while performing maintenance work at La Escondida copper mine in Chile.The man was identified as Rudy Henry Ortiz Mart?-nez and he belonged to Cainsa, a subcontractor that works within the project 57.5% owned by BHP Billiton and 30% owned by Rio Tinto. Ortiz was working in the SAG mill and found himself stuck in the cap lining. His co-workers' efforts to...Read More
Despite upbeat results from companies operating in the country, official data released early this year shows that silver output in Mexico, the world's largest producer of the precious metal, has dropped over the past two years.Like much of the rest of the world, the country's mining industry saw very few new mines opening up in the period, marked by a sharp drop in commodity prices. Companies that...Read More
Mining giant Rio Tinto (LON, ASX:RIO), the world's second-largest iron ore producer, lowered its forecast on full-year exports from Australia, despite China's recent spike in demand is supporting prices of the steelmaking material.Rio now expects to ship 325 million to 330 million tonnes in 2016, down from its earlier guidance of 330 million tonnes.The diversified miner said third-quarter shipment...Read More
The chairman of the world's largest mining company, BHP Billiton (ASX, NYSE:BHP) (LON:BLT), has just announced he would not seek re-election at next year's annual general meeting (AGM).Nasser had intended to announce his retirement last year but chose to stay on at the mining company to provide stability as BHP dealt with the aftermath of Samarco.Australian Jac Nasser, who was appointed chairman...Read More
Private equity firm Mineria Activa acquired 90% of Pampa Camarones through a US$18mm capital increase in the company.Previous shareholders, Samsung C&T and Pampa Mater, kept a minority participation.Pampa Camarones is a copper mining company located in the region of Arica, Chile. The company has a capacity to produce 8500 tons of copper cathodes per year and has been in operation since 2014.The tr...Read More
Maintaining and replacing tires are expensive for miners, said Bob Bennett, Vice President of Operations for Kal Tire during an interview at last month's MINExpo.Kal Tire is Canada's largest independent tire dealer and one of North America's largest commercial tire dealers. Kal Tire's Mining Tire Group operates at more than 150 mine sites across five continents.Full interview transcribed for clari...Read More
BHP Billiton aspires to have a workforce that is 50% female by 2025, in a report by The Financial Times.CEO Andrew Mackenzie made the announcement before the company kicks off its annual meeting in London on Thursday.BHP Billiton (NYSE:BHP), the world's largest miner, currently has 65,000 employees with just 17% being female. Senior staff bonuses are already tied to hiring more female workers. BHP...Read More
Canadian junior Pistol Bay Mining (CVE:PST) announced the acquisition of all properties and deposits from AurCrest Gold (CVE:AGO) and Glencore (LON:GLEN) in Ontario's Confederation Lake Greenstone Belt.The property package covers a 31 kilometres length of the Confederation Lake Greenstone Belt and includes two zinc-copper deposits and a number of zones which are in need of follow-up drilling. Mine...Read More
One year after the reopening of its zinc, copper, and lead Aznalc??llar mine near the Spaniard city of Sevilla, Grupo Mexico's project is being scrutinized once again.Sevilla's Provincial Court decided to revisit the investigation behind the mining rights awarded to GMexico's subsidiary M?(C)xico-Minorbis. Last year, accusations about shady pre-arranged agreements to obtain such concession, dismis...Read More
In May Freeport-McMoRan Copper & Gold (NYSE:FCX) announced the sale of its Tenke Fungurume copper mine in the Democratic Republic of the Congo to China Molybdenum (CMOC) for up to $2.65 billion, a crucial part of the Phoenix-based company's debt reduction program.But exiting the DRC is proving to be as complicated as operating a mine in the troubled central African country. Now Gecamines, the stat...Read More
Certain commodities tend to fly under the radar for periods of time.For example, it was only in the last couple of years that markets have been able to digest the potential impact of the electric vehicle boom, and what it may mean for raw materials. The lithium, graphite, and cobalt prices reacted accordingly, and suddenly these essential ingredients for lithium-ion batteries were hot commodities....Read More
For the first time in about five years, the world's No. 1 mining company BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has said it was finally seeing clear signs of a commodity market turnaround.Announcing the results of an operational review ended Sep. 30, chief executive officer Andrew Mackenzie said there were "early signs of markets rebalancing."Iron ore and metallurgical coal prices have been stron...Read More
Imperial Metals escaped charges from its 2014 Mount Polley tailings breach near the city of Williams Lake, but the company isn't going to dodge new legal actions coming its way.Today, MiningWatch, backed by more than a dozen of other non-profit organizations including Amnesty International, Clayoquot Action, and Wilderness Committee, announced its plans to file a private prosecution under Canada's...Read More
Canadian Yamana Gold (TSX:YRI) (NYSE:AUY) is set to spin off its Brio Gold subsidiary, which operates non-core assets in Brazil, as a standalone public company.This is not the first time the Toronto-based mid-sized gold producer tries to divest the three Brazilian mines owned by its local unit. Late last year, the company attempted to sell some of its 100% stake in Brio through a private share pla...Read More
Production of cobalt, used in the lithium batteries that power everything from smartphones to electric cars, is set to soar in the Democratic Republic of the Congo (DRC), thanks to the country's low operating costs and strong projects pipeline, a new study published Tuesday shows.Analysts a BMI Research, a division of Fitch Group, estimate the country's cobalt output will jump from 66.2 thousand t...Read More
A massive gold-copper mine planned for northwest B.C.'s Golden Triangle would have a higher capital cost but lower operating costs and a smaller environmental footprint, according to a revised plan.Seabridge Gold Inc. (TSX:SEA) recently updated its plans for the proposed Kerr-Sulphurets-Mitchell (KSM) mine 65 kilometres northwest of Stewart with a preliminary economic assessment and an updated p...Read More