Month: June 2019

Camino Minerals allowed to expand drilling in southern Peru

The Peruvian Ministry of Energy and Mines approved a permit related to Camino Minerals’ (TSXV: COR) environmental impact assessment for the Chapitos copper-gold project. The permit allows for the expansion of drilling activities along the Diva Trend at Chapitos. Drilling...

/ June 11, 2019

Swiss expert to start work on new standards for mining dam safety

A Swiss environmental expert will make a fact-finding trip this week to the site of the Vale dam disaster in Brazil to start work on setting new dam safety standards for miners. The safety of dams used to store mining...

/ June 11, 2019

Nation built on gold loses its African crown to rival Ghana

South Africa’s struggling gold industry has suffered yet another humiliation, losing its status as continental leader to Ghana. The country that led global gold production for a century and extracted about half the bullion mined to date is now Africa’s...

/ June 11, 2019

DeepGreen closer to mining battery metals from the sea after $150m injection

Canada’s DeepGreen Metals, a start-up planning to extract cobalt and other battery metals from small rocks covering the seafloor, has secured the bulk of the $150 million it needs to carry out its first feasibility studies. The financing, provided by...

/ June 10, 2019

Ecuador’s new mining policy backs large-scale projects

The Vice President of Ecuador, Otto Sonnenholzner, and the Minister of Energy and Non-renewable Natural Resources, Carlos Pérez, presented the country’s new Public Mining Policy, with the focus on supporting large-scale operations and investments, and eradicating illegal mining. The announcement...

/ June 10, 2019

Bonus schemes play a role in tailings dams failures – research

A paper published in the journal Resources Policy states that bonus schemes for middle management employees in mining companies play a role in tailings dams failures. According to the research article, such compensation packages actively encourage managers to cut costs...

/ June 10, 2019

Scientists produce gold, silver, copper foams

Scientists at the US Lawrence Livermore National Laboratory created ultra-low density gold, silver and copper foams to give physicists better X-ray sources to employ in experiments at the National Ignition Facility. This facility is a large laser-based inertial confinement fusion...

/ June 10, 2019

What tariffs and the NBA finals mean for gold's rally

As we close out another week, I’m currently in Toronto, the mining finance capital of the world. But at the moment, all eyes are on the Toronto Raptors, now the most valuable sports franchise in Canada as they make their...

/ June 10, 2019

Brazil's Vale will invest $1.9B to shut down nine dams -filing

Brazilian mining company Vale SA said it will spend $1.9 billion for the decommissioning of nine tailing dams in the Brazilian state of Minas Gerais, according to a securities filing late on Friday. The company will invest between $150 million...

/ June 10, 2019

Congo state miner says it paid $263m in tax advances

The Democratic Republic of Congo’s state-owned mining company rejected allegations that there are discrepancies in its financial statements, saying it paid $263 million in tax advances over a five-year period. Congo is the world’s biggest miner of cobalt, used in...

/ June 10, 2019

Gold giants battling to lure back investors who fled industry

What’s better than GOLD? In the wake of two mega-mergers that have reset the gold industry, one small detail has delighted Mark Bristow, Barrick Gold Corp.’s chief executive officer: His company’s ability to secure the rights to trade its stock...

/ June 10, 2019

First Quantum wants to operate Cobre Panama without 'legal uncertainties'

Canada’s First Quantum Minerals (TSX:FM) responded to Panama’s President-elect Laurentino Cortizo by issuing a media release stating that the extension of the contract to operate the Cobre Panamá mine fulfills current laws and regulations and that its team should be...

/ June 9, 2019