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How Anglo quietly built a commodity trader in Glencore's shadow

By: Bloomberg     17th September 2018 Anglo American has quietly become a commodities trader. In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking... 

Thiess wins Nickel West contract

By: Esmarie Swanepoel     10th September 2018 Mining services provider Thiess has been awarded a A$190-million underground mining contract for the Leinster project, in Western Australia, from BHP’s Nickel West division. The contract would span a minimum of 24 months, and will include the provision of a full range of underground mining... 

Collins added to South32 lead team

By: Esmarie Swanepoel     7th September 2018 Diversified miner South32 has appointed Simon Collins as chief development officer, accountable for exploration, portfolio strategy, business development, and acquisitions and divestments. Collins will also continue to oversee the study phase of the Hermosa base metals project, in the US. 

Copper deal day hits with a flurry of M&A for the hottest metal

By: Bloomberg     5th September 2018 "Everyone loves copper and everyone wants to buy it” has been this year’s mining mantra. Today the ball started rolling. China’s Zijin Mining Group swooped on a huge undeveloped copper mine in Serbia, acting as a white knight to beat out an earlier hostile bid from a Canadian rival. At the same... 

BHP buys into Ecuador copper project with SolGold stake

By: Esmarie Swanepoel     5th September 2018 Diversified miner BHP has struck a deal with TSX-listed Guyana Goldfields (GGI) to acquire its 6.1% interest in SolGold, which is the majority owner and operator of the Cascabel porphyry copper/gold project, in Ecuador. Under the terms of the agreement, BHP will acquire GGI's entire stake of... 

In Chilean desert, global thirst for lithium is fueling a 'water war'

By: Reuters     29th August 2018 On Chilean water regulator Oscar Cristi's desk, a small white espresso cup teeters atop piles of documents and loose folders that appear on the point of collapse, perhaps an apt metaphor for the growing water crisis in parts of the Andean country. Sitting in his eighth-floor office adjacent the... 

Chile says to clamp down on water rights in lithium-rich Salar de Atacama

By: Reuters     24th August 2018 Chile is preparing major new restrictions on the extraction of water from the lithium-rich Salar de Atacama salt flats, home to top lithium miners Albemarle and SQM, the head of the country’s water authority told Reuters on Thursday. Water authority chief Oscar Cristi said in an exclusive... 

BHP suffers outage at Olympic dam copper smelter

By: Reuters     21st August 2018 Global miner BHP Billiton said it was assessing the impact of an ongoing outage at its Olympic dam copper smelter in South Australia, as it released its annual results on Tuesday. The outage followed the failure of several boiler tubes at the acid plant, it said without offering an expected... 

Workers at Chile's Escondida, world's top copper mine, ink contract

By: Reuters     18th August 2018 The union representing workers of Chilean copper mine Escondida signed a new collective labor contract on Friday, ending the risk of a strike that could have paralyzed the world's biggest copper mine. Mine operator BHP had said earlier in the week that terms had been reached but the union needed... 

Chile's Escondida says deal reached with union on new contract

By: Reuters     16th August 2018 Management at the world's largest copper mine, Chile's Escondida, said it struck a deal on Wednesday on a new labour contract with the union representing most of its workers. Union officials could not be reached for immediate comment on the agreement, which could signal labor peace after last... 

Antofagasta's H1 earnings fall, trade tensions cloud demand outlook

By: Reuters     14th August 2018 Chilean copper producer Antofagasta said first-half core earnings fell 16.2% from a year earlier, citing weaker ore quality, and said trade tensions clouded the broader market outlook in the short term. Its share price was down by 5.4% by 09:13 GMT, while the broader sector was 0.8% lower. 

BHP, union extend labor talks at mammoth Chile copper mine

By: Reuters     14th August 2018 The union at the world's largest copper mine, Escondida in Chile, has called off a strike planned to start on Tuesday after agreeing to extend talks with operator BHP for another day. The announcement early on Tuesday comes amid fears of a repeat of last year's strike at Escondida, which jolted... 

Copper shorts exposed to supply shock as giant mine faces strike

By: Bloomberg     12th August 2018 Copper bears could get caught wrong-footed as a strike looms at the world’s biggest mine. In the US, hedge funds’ bearish bets outnumber bullish wagers by the most since 2016, latest government data show. The top brokers on the Shanghai Futures Exchange boosted their net-short position by more... 

Most unions at Chile's El Teniente copper mine accept contract

By: Reuters     10th August 2018 Four of the five labor unions representing workers at the El Teniente copper mine in Chile have accepted the latest contract offer from state mining company Codelco, union leaders told Reuters. "The contract was approved by an ample margin after the company improved its offer," said Guillermo... 

BHP reaches $50m settlement in US lawsuit

By: Esmarie Swanepoel     9th August 2018 Mining major BHP has reached a $50-million settlement on a class action filed in the US District Court in New York regarding the Samarco dam failure, in 2015. The settlement comes with no admission of liability from the miner, and was still subject to approval by the District Court. 

Union at Caserones mine in Chile says no deal in labour talks, strike imminent

By: Reuters     9th August 2018 The main union at Chile's Caserones copper mine said on Wednesday that a last round of labor negotiations with mine operator Lumina Copper had broken down and that a strike was imminent. The 300-member worker's union said Lumina, which is controlled by a partnership of JX Holding and Mitsui... 

Humiliated for years, women are fighting back in mines of Chile

By: Bloomberg     8th August 2018 he first time Karen Requena entered the cafeteria at BHP Billiton’s massive Escondida mining operation in northern Chile, she couldn’t help feeling countless eyes fixed on her body as she walked across the vast hall. “It can’t get worse than that,” she thought. Then as Requena looked for a place... 

BHP asks for government mediation in talks at Chile's Escondida

By: Reuters     7th August 2018 Miner BHP said on Monday that it had formally requested a period of government mediation with the union at its Escondida copper mine in Chile, the world's largest, prompting the union to postpone the start of a strike approved by workers. The two parties will meet, together with a government... 

Miners set to spend $11bn in search of the next jackpot

By: Bloomberg     7th August 2018 Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues on whether the sector’s heavyweights are close to a new jackpot discovery. As Rio Tinto Group searches Australia’s Great Sandy Desert for copper and Anglo American scours a 19... 

Gas industry pushes for further easing of restrictions to boost supply

By: Esmarie Swanepoel     2nd August 2018 The resources industry has called for a further easing of restrictions on the gas industry to ensure the development of more supply, according to the Australian Competition and Consumer Commission’s (ACCC’s) latest Gas Market Inquiry report. The ACCC said on Thursday that while conditions on the... 

Chilean workers vote to strike at world's biggest copper mine

By: Reuters     2nd August 2018 Workers at BHP Billiton's Escondida mine in Chile, the world's biggest copper mine, have voted to reject a company wage offer and go on strike, according to a communique sent to Reuters on Thursday. A total of 2 330 members voted on strike action, with 1 955 supporting it and 370 accepting the... 

Escondida mine workers reject labour offer, to vote on strike

By: Reuters     30th July 2018 Workers at Chile's Escondida copper mine, the world's largest, have rejected the company's final contract offer and agreed to vote on whether to go on strike, according to an internal union document seen by Reuters on Friday. After several meetings in recent days, the workers at the mine owned... 

Will BHP's CEO follow top miner's shale unit out of the door?

By: Bloomberg     27th July 2018 BHP Billiton’s $10.8-billion of deals to exit its troubled US shale unit will allow CEO Andrew Mackenzie to shower investors with returns. It may also be a chance for him to bow out on top. Mackenzie, 61, who’s held his post since 2013, has delivered on plans to simplify BHP around a tighter... 

Only a 'cataclysm' could hit top quality ore demand – Vale CEO

By: Reuters     26th July 2018 Brazil's Vale, the world's top iron-ore producer, forecast steady prices for the mineral and rising premiums for its top quality ore, thanks to strong demand from China and despite global trade tensions. Vale CEO Fabio Schvartsman said a scarcity of Vale's trademark top quality ore protects the... 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Swanepoel     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

The world's biggest miners want more copper but nobody's selling

By: Bloomberg     17th July 2018 It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The largest miners all say they’re bullish on copper and looking for growth in the metal that’s forecast to be in ever-greater demand as cities expand and... 

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

BHP gains green light for long-term Pilbara expansion

By: Esmarie Swanepoel     11th July 2018 The Western Australia Environmental Protection Authority has approved mining major BHP’s long-term mining plan in the Pilbara. BHP is planning to expand its iron-ore operations, with plans to more than double current production to 350-million tonnes a year, with the ultimate objective of... 

BP is front-runner to buy BHP's US shale unit

By: Bloomberg     8th July 2018 BP has emerged as the front-runner to buy BHP Billiton’s onshore oil and gas operations in the US, according to a person familiar with the matter. The London-based oil major has made the highest offer for the assets, which BHP prefers selling in a single package, said the person, who asked to... 

Chilean miner Mantos Copper seeks buyer to help finance expansion

By: Reuters     6th July 2018 Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said. The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought... 

Company expands South American service offering

By: Jessica Oosthuizen     6th July 2018 As part of its coordinated international strategy, minerals processing specialist Multotec is establishing a joint venture (JV) in Belo Horizonte, Brazil, which will enhance its presence in the South American region, says Multotec screening media VP Roy Roche. He tells Mining Weekly that the... 

ICMM welcomes two South American miners

By: Jessica Oosthuizen     6th July 2018 Two South American mining companies, Minera San Cristóbal and Minsur, have joined the International Council on Mining and Metals (ICMM). ICMM CEO Tom Butler notes that both companies have earned their membership of ICMM by complying with the council’s “rigorous” admission procedure, adding that... 

BHP commits $211m to Brazil’s Renova Foundation, Samarco

By: Esmarie Swanepoel     29th June 2018 Mining major BHP on Friday said that it would contribute a total of $211-million to the Renova Foundation and its joint venture with Brazilian major Vale, Samarco, until the end of December this year. The miner said that $158-million of the funds would go towards the Renova Foundation to... 

‘Standout’ Glencore is ‘top pick’

By: Martin Creamer     27th June 2018 In a 150-page analysis of four of the world’s biggest diversified mining majors, Glencore has emerged as the top pick of financial services company Credit Suisse, which has declared the London- and Johannesburg-listed company headed by Ivan Glasenberg as the current “standout” diversified mining... 

Thiess wins A$225m Nickel West contract

By: Esmarie Swanepoel     22nd June 2018 ASX-listed Cimic’s mining services provider Thiess has been awarded a A$225-million contract at the Rocky’s Reward nickel mine, in Western Australia. The 34-month contract with the Nickel West division of mining major BHP, incorporated a further cutback at the Rocky’s Reward pit and works at a... 

Samarco is said to be nearing settlement with Brazil prosecutors

By: Bloomberg     15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

BHP awards contract at newly approved South Flank

By: Esmarie Swanepoel     15th June 2018 Mining major BHP has awarded a A$260-million mining infrastructure works contract to ASX-listed Cimic, at the newly approved South Flank project, in Western Australia. BHP overnight approved the $3.4-billion South Flank project, which will replace production from the 80-million tonne a year... 

BHP approves $2.9bn capital expenditure for South Flank iron project

By: Creamer Media Reporter      14th June 2018 BHP has approved capital expenditure of $2.9-billion for the South Flank iron-ore project, in the central Pilbara, Western Australia. The project, in which BHP holds an 85% interest, will cost $3.4-billion to develop and will fully replace production from the 80-million-tonne a year Yandi mine,... 

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