Category: Copper

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

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

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

This 50-year chart shows just how undervalued commodities are

US stock markets just enjoyed their best week of the year on speculation that the Federal Reserve would once again ride to the rescue of equities and inflate asset prices by cutting rates. The S&P 500 index is sporting double...

/ June 8, 2019

Noront and Aroland First Nation to work together on nickel mine in Ontario

Noront Resources (TSX-V: NOT) signed a memorandum of understanding with the Aroland First Nation to advance the planning process for the development of the Eagle’s Nest nickel-copper-platinum-palladium deposit in the Ring of Fire, northern Ontario. In a media statement, both...

/ June 7, 2019

Codelco sweetens offer to avoid strike at Chuquicamata mine

Unions at Chile’s Chuquicamata copper mine expressed disappointment in state-run miner Codelco’s latest contract offer on Thursday but agreed to extend negotiations in hopes of averting a strike. Codelco, the world’s largest copper producer, started government-mediated talks with unions 1,...

/ June 7, 2019

Copper price falls on worst global factory data since 2012

The price of copper was hammered on Wednesday amid mounting worries about the impact of a trade war between the world’s two largest economies and a global slowdown in manufacturing. In early afternoon trading in New York, copper for delivery...

/ June 6, 2019

Top 40 miners’ good performance not enough for investors – report

The world’s 40 largest mining companies showed steady growth in 2018 and consolidated the positive performance they had over the past several years, a new report by PwC revealed. In its Mine 2019: Resourcing the future report, the multinational professional...

/ June 6, 2019

Codelco leads $11 billion mining capital raising in 2019

Source: GlobalData Mining Intelligence Center A new report by GlobalData shows the value of capital raising deals in the metals and mining sector increased from the final quarter last year to over $11 billion in Q1 2019, despite the number...

/ June 5, 2019

Vedanta seeks arbitration in Zambian copper mine dispute

Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, said it’s seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country. Zambia’s government this month began liquidation proceedings against Vedanta’s Konkola Copper...

/ June 4, 2019

Worker killed at Codelco’s El Teniente mine

A worker at Codelco’s El Teniente operation was hit by a rock and died on Sunday, Chile’s state miner informed. In a media statement, the world’s No.1 copper producer lamented the passing of 58-year-old Pedro Enrique Mena Bolvarán, who belonged...

/ June 3, 2019

Finland’s new government plans spending spree, Iltalehti reports

Finland’s next government, encompassing five parties from the left and center of the political spectrum, will increase spending by about 4 billion euros ($4.5 billion), Iltalehti reported, citing a draft of the government program agreed on Friday. The incoming cabinet,...

/ June 3, 2019