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Reuters

Lundin confirms job cuts at Chile's Candelaria copper mine

18th November 2018 Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike. In a statement sent to Reuters, the company said the job cuts represented less than 2% of... 

Russian Jan-July gold output flat at 157.19 t

16th November 2018 Russia produced 157.19 t of gold in the first seven months of 2018, exactly the same amount as in the same period last year, the Finance Ministry said on Friday. Production for the period included 129.34 t of mined gold compared with 126.39 t a year ago, the Ministry said. 

India state may cancel NMDC's Donimalai mine lease in levy dispute

16th November 2018 The government of India's Karnataka state on Friday warned NMDC that it will cancel the lease of its Donimalai iron-ore mine if the State-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka's threat to cancel the lease stems from a dispute between NDMC, India's... 

BHP blames driver error, brake problem for runaway train wreck

16th November 2018 BHP said on Friday that driver error caused an iron-ore train to run away without its driver and a brake problem caused the company to intentionally derail the train in order to stop it, according to a preliminary investigation. BHP said its initial findings of the November 5 incident showed the... 

K+S cuts outlook after dry weather weighs on production

15th November 2018 German potash miner K+S lowered its full-year earnings guidance on Thursday after a severe drought hampered production at its main mine network in the third quarter. The company now forecasts earnings before interest, taxes, depreciation and amortisation (Ebitda) between €570-million and... 

China plumbs ocean depths to extend its cobalt lead

15th November 2018 China, the leading holder of international deep sea exploration licences, has increased its lead in the race for alternative sources of battery minerals by taking samples from cobalt-bearing mountains deep in the Pacific. The cobalt-rich crusts could one day curb the world's dependence on cobalt... 

Rio Tinto joins race for Teck's copper project stake - sources

14th November 2018 LONDON – Rio Tinto is among parties making a final offer for a minority stake in Teck Resources' Quebrada Blanca copper mine expansion in northern Chile, a development worth $4.8-billion, two sources close to the matter said. The world's second largest mining company is eager to boost its copper... 

Copper industry sees green shoots of demand after trade war price slump

14th November 2018 The outlook for copper demand in the mid to long term remains healthy despite current trade friction between China and the United States as a renewable energy revolution will require vast amounts of the metal, industry executives said on Wednesday. Delegates at the Asia Copper Conference in... 

Chinese copper smelters look to mine investment to secure supply

14th November 2018 Chinese copper smelters are looking to make more investments in mines, pushing to shore up supply of concentrate at a time when competition for the raw material is heating up, industry executives said on Wednesday. China is the world's biggest consumer of the metal but its own copper mine... 

Harry Winston jeweler buys 'Pink Legacy' diamond for record $50m – Christie's

14th November 2018 The "Pink Legacy", a diamond weighing just under 19 carats, fetched a record 50.375-million Swiss francs ($50-million), purchased by US-based luxury jeweller Harry Winston, Christie's said on Tuesday. Harry Winston, owned by Swatch whose CEO is Nayla Hayek, daughter of the late Swatch founder... 

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