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Barrick taps Michael Klein as advisor on Zaldivar mine options-sources

By: Reuters     Updated 7 hours ago Barrick Gold is being advised on options for its Zaldivar copper mine in Chile by the boutique firm of mining rainmaker Michael Klein, in a deal potentially worth around $2-billion, three sources familiar with the matter said on Monday. Toronto-based Barrick has already contacted a limited group... 

New dust buster initiative sounds potential death knell for silicosis scourge

By: Martin Creamer A spectacular new dust control system announced at a Chamber of Mines (CoM) of South Africa conference on Monday is described as the closest the industry has come to a silver bullet to put an end to the curse of silicosis and other lung diseases that have plagued the South African mining industry... 

New dust buster initiative sounds potential death knell for silicosis scourge
Photo by Duane Daws
Terence Goodlace

BHP Billiton shuts oven at Colombia ferronickel plant, cutting output

By: Reuters BHP Billiton has shut an oven at its Cerro Matoso ferronickel plant in Colombia after equipment damage, cutting output by as much as three quarters, the president of the union representing the plant's workers told Reuters on Friday. Damage to a crane stopped production of one of two ovens at the... 

Walsh says Rio Tinto to continue with low-cost iron-ore expansions

By: Esmarie Swanepoel Diversified giant Rio Tinto has told shareholders that the group will continue to push on with its iron-ore expansion in the Pilbara, despite the declining iron-ore price. CEO Sam Walsh said in London this week that the company would continue with a low-capital brownfield expansion as part of... 

Walsh says Rio Tinto to continue with low-cost iron-ore expansions
Photo by Bloomberg
Rio Tinto CEO Sam Walsh

Tahoe Resources to appeal employee detention

By: Henry Lazenby Vancouver-based Tahoe Resources this week said Guatemala subsidiary Minera San Rafael (MSR) would appeal the court-ordered confinement of an employee pending the investigation of a 2012 environmental claim. The TSX- and NYSE-listed miner said the employee was in charge of regulatory issues,... 

Anglo American weighs options to ease water shortage at Chile mine

By: Reuters Anglo American is weighing its options to resolve a water shortage at Los Bronces copper mine, in central Chile, that has hit production, and testing market appetite for two of its copper deposits, a top executive said. An eight-year drought has dried up reservoirs and rivers, sucking into the... 

Anglo American to give Mitsubishi option to boost Peru Quellaveco stake

By: Reuters Anglo American is looking at syndicating its Quellaveco copper project, in Peru, and having current partner Mitsubishi Corp increase its current 18.1% stake, said Hennie Faul, the head of Anglo's copper business. "If you're going to syndicate that and increase the partnership, we've got a very... 

Lupaka Gold reports fatal accident

By: Henry Lazenby Peru-focused explorer and project developer Lupaka Gold has reported that a fatal accident involving a Peruvian employee occurred on Tuesday at the Invicta gold mine site. The employee's family and all relevant authorities were contacted and an investigation into the accident started with the... 

Apart from Big 3, iron ore miners face 'existential' threat -Goldman

By: Reuters Up to half of iron-ore output by miners outside the three mega producers in Australia and Brazil is at risk of closure with global demand set to peak at about 1.4-billion tonnes next year, Goldman Sachs said. Production volumes among top miners - Vale, Rio Tinto and BHP Billiton - was not at... 

Orinoco board gives thumbs up to $6.6m Brazil gold mine

By: Esmarie Swanepoel The board of ASX-listed Orinoco Gold has approved the development of the $6.6-million Cascaval underground gold mine, in Brazil. The decision to mine followed the successful completion of a due diligence by funding partner Chancery Asset Management, which would provide a A$14-million funding... 

Peru okays Southern Copper's $1.2bn Toquepala mine expansion

By: Reuters Peru approved Southern Copper's planned $1.2-billion expansion of its Toquepala mine, in southern Peru, putting it on track to double the operation's concentrating capacity, the company said on Wednesday. Southern Copper, controlled by Grupo Mexico, said in a regulatory filing that the expansion... 

Chile eyes new environment rules to spur investment

By: Reuters Chile will move to make changes to its environmental regulations to reduce uncertainty and encourage investment, President Michelle Bachelet announced on Wednesday. Center-left Bachelet said she has appointed a commission to work over the next nine months to come up with a new environmental... 

Goldman Sachs bullish on South Africa as favourable investment destination 

By: Martin Creamer Leading global investment banking, securities and investment management firm Goldman Sachs is bullish on South Africa, which it regards as a favourable destination for fund managers because of the depth of its capital market and the scarcity of other emerging market options. Goldman Sachs... 

Goldman Sachs bullish on South Africa as favourable investment destination
Photo by Duane Daws
Colin Coleman

Brazil's Vale approves $1bn dividend payment

By: Reuters Brazilian miner Vale said on Tuesday it approved payment of a dividend instalment of 3.1-billion reais ($1.01-billion), easing investor concerns that it might slash the payment in the face of falling iron-ore prices. Vale and other major miners were put on credit watch negative by Standard &... 

No swift recovery seen for copper market amid surplus, weak demand

By: Reuters The copper market will not get any respite from weak prices and excess supplies any time soon, even after recent hefty cost cutting and project delays have removed more than a million tonnes of new capacity, top executives said on Tuesday. Speaking at the CRU Copper conference, the executives... 

No swift recovery seen for copper market amid surplus, weak demand

Union at Colombia's BHP Billiton ferronickel mine to strike

By: Reuters Union workers at Colombia's Cerro Matoso mine, the world's sixth-largest producer of ferronickel, will begin an indefinite strike on Tuesday in protest over longer working hours, the union president said. The move comes after Cerro Matoso, owned by BHP Billiton, increased shifts from eight to 12... 

Southern Copper sees Tia Maria mine go-ahead despite protests

By: Reuters Southern Copper expects to obtain a construction permit for its $1.4-billion Tia Maria copper project, in Peru, in the next few months, a senior executive said on Tuesday, playing down concerns that local opposition may disrupt its development. Speaking on the sidelines of the CRU Copper... 

International Copper Association launches campaign to highlight copper's critical role in sustainable development

By: Henry Lazenby The International Copper Association (ICA), a founding partner of the ‘Efficient Appliances and Equipment Global Partnership Programme’, has launched a communications campaign to demonstrate copper’s critical role in sustainable development. The ICA noted on Monday that it was currently leading... 

Christmas break and mine scheduling lower Gold Fields Q1 output

By: Henry Lazenby The Christmas break in South Africa and mine scheduling at the other operations led to lower output for the three months ended March 31, triple-listed miner Gold Fields said on Tuesday. Despite the lower production being planned, output in the period was down 10% quarter-over-quarter to 501 000... 

Codelco sees Ministro Hales equipment fully operational in 2 to 3 months

By: Reuters World No 1 copper producer Codelco expects to have the roaster at its new Ministro Hales mine fully operational in two to three months, Nelson Pizarro, CEO of the Chilean state-owned miner, said. The roaster is used to remove arsenic from the ore at Ministro Hales, but has been plagued by... 

'Blood-free' minerals scheme must be binding, EU lawmakers say

By: Reuters European importers of minerals from conflict zones should be forced to certify their goods "blood-free", an influential group of EU lawmakers said on Tuesday, seeking to toughen a proposal to prevent the financing of warlords in Africa. Much of the gold, tantalum, tin and tungsten used in... 

S&P's warns of imminent downgrade for several miners

By: Reuters Standard & Poor's warned on Monday it may soon downgrade several miners as it lowered its iron ore price estimates for the next couple of years. S&P's said in a statement it was placing on watch negative the credit ratings of Vale SA, Rio Tinto, BHP Billiton, Anglo American, CAP SA, Exxaro... 

South32 turns bearish as tax inquiry, iron-ore put ‘sell’ skids under BHP

By: Martin Creamer With the shareholder vote just over three weeks away, the planned spin-off of South32 from BHP Billiton has turned bearish and BHP Billiton has itself fallen victim to an unprecedented number of analyst sell recommendations owing to the plummeting iron-ore price, worsened by the reputational... 

South32 turns bearish as tax inquiry, iron-ore put ‘sell’ skids under BHP
Photo by Duane Daws
The BHP Billiton building in central Johannesburg

MBAC Fertiliser stock ends week on high after midweek financing update

By: Henry Lazenby The stock of beleaguered plant nutrients producer MBAC Fertilisers on Friday ended the week up 128.57% on the TSX, following a midweek corporate update. MBAC, which placed its Brazilian flagship Itafós mine on care-and-maintenance in December owing to a soft seasonal single super phosphate (SSP)... 

Gold Fields goes it alone in clinching non-centralised three-year wage deal

By: Martin Creamer Gold Fields has opted to negotiate outside of the traditional centralised bargaining format in clinching a three-year, 10%-a-year wage agreement at its fully mechanised, 3 500-employee South Deep gold mine, leaving the other five Chamber of Mines (CoM) gold mining companies to continue to adhere... 

Gold Fields goes it alone in clinching non-centralised three-year wage deal
Tough gold talks on way

Glencore to shift Singapore coal office to Australia

By: Reuters Glencore, the world' biggest exporter of thermal coal, said on Friday it will close its Singapore sales office to consolidate the business in Australia. The move comes amid media reports that Australia is pursuing rival miners BHP Billiton and Rio Tinto for shifting billions of dollars in iron... 

Indian iron-ore miners’ woes persist as govt disregards pleas to slash 30% export tax

By: Ajoy K Das An unlimited power to tax involves, necessarily, a power to destroy; because there are limits beyond which no institution and no property can bear taxation.” – John Marshall (1755-1835) Indian iron-ore miners could well be lamenting that the country’s fiscal managers are seemingly unfamiliar with... 

Indian iron-ore miners’ woes persist as govt disregards pleas to slash 30% export tax

Iron-ore in fresh crisis as forward prices crumble

By: Reuters Iron-ore is veering to a new crisis as prices for future delivery of the commodity slide 30% in the space of a month, and its outlook is now more bearish than oil and more dire than ever for miners struggling to just stay in business. Prices of the steel-making ingredient for immediate delivery... 

Kumba Iron Ore opens clinic as Minister visits award-winning housing complex

By: Martin Creamer Kumba Iron Ore top brass and Mineral Resources Minister Ngoako Ramatlhodi on Thursday launched a new R8.8-million clinic and visited the Anglo American company’s award-winning 718-employee-house complex in the Northern Cape. “We believe that these projects will go a long way in addressing the... 

Kumba Iron Ore opens clinic as Minister visits award-winning housing complex
Photo by Duane Daws
Norman Mbazima

Gold to average $1 170/oz in 2015 – Thomson Reuters

By: Martin Creamer Gold would sell at an average price of $1 170/oz during 2015 and rise to an average of $1 250/oz in 2016, the Gold Fields Mineral Services (GFMS) team at Thomson Reuters forecast on Thursday. GFMS’s forty-ninth yearly gold survey found that the gold price had already bottomed in local currency... 

Gold to average $1 170/oz in 2015 – Thomson Reuters
Photo by Bloomberg
Gold bar

Yamana’s Brio Gold to go public in third quarter

By: Henry Lazenby Canadian miner Yamana Gold on Wednesday announced that subsidiary Brio Gold, which held most of its former Brazilian assets, was expected to go public in the third quarter of this year. Yamana advised that Brio Gold going public was the “optimal approach” to realising its “considerable value” and... 

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