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Bloomberg

Peru raids biggest illegal mining zone to stem Amazon gold rush

20th February 2019 Peru moved to shut down a major illegal gold mine hub deep in the Amazon after years of expansion destroyed pristine rain forest and polluted rivers with mercury. The government deployed 1 500 agents from the police and armed forces to La Pampa in the Madre de Dios region of southeast Peru on... 

ERG will suspend copper, cobalt output at Congo mine this month

20th February 2019 Eurasian Resources Group will halt production at a copper and cobalt mine in the Democratic Republic of Congo, as it considers future investment in new production methods. The shutdown at Boss Mining Sprl will curb cobalt supplies from a nation that accounts for three-quarters of global... 

Hudbay's No. 2 investor ratchets up pressure on miner

20th February 2019 Hudbay Minerals’s second-biggest investor ratcheted up pressure on the Toronto miner ahead of its quarterly earnings, arguing the company’s shares could more than double if it changes its strategy. Hudbay could be worth about C$19 a share if it changes its leadership, reviews its portfolio and... 

Palladium bursts above $1 500 as shortages ignite record rally

20th February 2019 Palladium powered above $1 500 to hit a record, extending a powerful rally driven by an acute shortage of supply as car manufacturers scramble to get hold of the material to meet stringent emissions controls. Spot palladium rose as much as 1.7% to $1 505.46/oz, and was at $1 501.89 at 11:38 a.m.... 

BHP can't rescue iron-ore market after Brazil dam disaster

19th February 2019 BHP Group, the world’s biggest miner, doesn’t have capacity to raise shipments into the iron ore market as competitor Vale faces outages following the fatal mining disaster in Brazil last month. The global iron ore market has been thrown upside down by the tragedy, after Vale was forced to... 

Buybacks and bumper profits on the cards as mining giants report

18th February 2019 A surge in iron-ore prices is fueling hopes for bigger returns and a share-buyback spree as the world’s top miners prepare to report results. BHP, Rio Tinto, Glencore and Anglo American are expected to announce bumper profits over the next two weeks. So far, the biggest producers have remained... 

Brazil bans upstream mining dams after Vale's latest disaster

18th February 2019 Brazil is prohibiting a specific type of tailings dam after two of those structures owned by miner Vale burst in recent years, causing death and environmental devastation. All so-called upstream dams need to be decommissioned or removed by August 2021, according to a resolution the National... 

Copper cops play game of cat and mouse around desert convoys

18th February 2019 Just weeks after the police unit was formed, they caught their first glimpse of the copper thieves -- the silhouettes of a group of men on a hill overlooking the rail lines -- triggering a car chase at the dead of night across Chile’s Atacama desert. While the pursuit ended in failure, with the... 

Zimbabwe reviews safety laws after 24 miners die, NewsDay says

18th February 2019 Zimbabwe’s government will review mining legislation to improve safety standards in the industry, after 24 miners died when two gold shafts collapsed, the Herald reported, citing Mines Minister Winston Chitando. “Obviously it is a learning point and we will, as government, have a serious review... 

China won't come to the rescue in global iron-ore supply crisis

15th February 2019 China’s strict environmental regime means domestic iron ore mines won’t boost output to meet any supply shortfall after Vale’s dam disaster, according to the head of a major Chinese mining group. The global iron-ore market is in the grip of a supply shock after the deadly dam burst last month in... 

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