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Glencore will 'vigorously contest' $680m tax demand

By: Reuters     20th February 2019 Glencore on Wednesday said it would "vigorously contest" a $680-million tax demand from the British authorities linked to transfer pricing. The Swiss-based mining and trading company has offices in London and is London-listed. 

Glencore auditing 140 slimes dams 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore is auditing 140 slimes dams, 65 of them active and 75 of them closed. The company has been undertaking detailed assessments and audits of all material tailings storage facilities (TSFs) over the past three years, after accumulating a TSF... 

BHP half-year underlying profit down 8% to $3.7bn

By: Esmarie Iannucci     19th February 2019 Diversified major BHP reported an 8% decrease in half-year underlying profit and said its earnings from its copper division fell sharply in the six months. Underlying attributable profit fell from $4.1-billion in the half-year ended December 2017, to $3.7-billion in the half-year ended December... 

Buybacks and bumper profits on the cards as mining giants report

By: Bloomberg     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... 

Proposed Olympic Dam expansion declared ‘major development’

By: Esmarie Iannucci     15th February 2019 Mining giant BHP’s expansion plan at its Olympic Dam project, in South Australia, has seen the project declared a major development by the state government. The proposed $3-billion expansion will increase copper production at Olympic Dam by some 75%, from 200 000 t/y to 350 000 t/y, and will... 

Constant improvement crucial for the mining industry

By: Jessica Oosthuizen     15th February 2019 Industry organisation the Prospectors & Developers Association of Canada’s (PDAC’s) is to hold its annual convention in Toronto, Canada from March 3 to 6, and PDAC president Glenn Mullan says the convention must constantly improve to benefit people in the industry. “Staying relevant is... 

TWO-FACED IRON-ORE MINING:

By: Martin Creamer     15th February 2019 TWO-FACED IRON-ORE MINING: Brazilian mining company Vale’s Brumadinho tailings dam collapse killed 150 died and left 182 missing; Vale-BHP’s Samarco dam collapse killed 19. What evokes great sadness is Vale’s payment of no less than seven cash dividends to shareholders between October 2015 and... 

Cornerstone tells SolGold that its proposed offer will not succeed

By: Mariaan Webb     11th February 2019 TSX-V-listed Cornerstone has told its potential suitor that it will not be successful in a takeover of the company, after LSE- and TSX-listed explorer SolGold on Friday announced for the second time its intention to make an offer for Cornerstone. SolGold said on Friday that it believed all... 

Iron-ore powers to highest since 2014 as Vale crisis intensifies

By: Bloomberg     8th February 2019 Iron-ore futures surged more than 5% to hit the highest level since 2014 on concern that the increasingly severe crisis at top producer Vale will curtail global supplies, tightening the seaborne market and offsetting the impact of a slowdown in China, the largest importer. Vale invoked force... 

ANOTHER TAILINGS DISASTER:

By: Martin Creamer     8th February 2019 Residents are seen observing the impact of the breach of an iron-ore tailings dam at the Córrego do Feijão mine in Brazil, operated by Brazilian mining company Vale SA, which four years ago suffered a simiar breach at the Samarco iron-ore tailings dam, where Australian mining company BHP was a... 

Ethiopia finalising mining industry reforms – minister

By: Reuters     6th February 2019 Ethiopia will finalise reforms for its underdeveloped mining and oil sectors within the next two months as it seeks to encourage more foreign investors, its mines and petroleum minister said on Tuesday. The country has already cut taxes for mining companies in recent years but the government... 

Dam collapse will have profound impact on Vale – Moody’s

By: Mariaan Webb     1st February 2019 The deadly dam disaster involving Vale will have a profound impact on the world’s largest iron-ore producer, not only in terms of serious reputational risk, but it could strain the company’s liquidity and its ability to meet financial requirements, Moody’s Investor Service said this week. The... 

BHP and Rio back call for First Nations voice in Australian constitution

By: Esmarie Iannucci     31st January 2019 Majors BHP and Rio Tinto have endorsed the Uluru Statement from the Heart, making them as the first major corporations to back the call for a “First Nations voice” in the Australian constitution. The Uluru Statement also calls for the establishment of a Makarrata Commission to supervise... 

BHP offers its assistance to Vale

By: Esmarie Iannucci     31st January 2019 Diversified major BHP has offered its assistance to its Brazilian joint venture partner (JV) Vale, after that company suffered a dam rupture at its Córrego do Feijão mine, in the city of Brumadinho, Minas Gerais, Brazil. Reports on Thursday stated that Brazilian rescue teams have recovered the... 

Deloitte outlines trends to assist miners find new strategic approach

By: Simone Liedtke     29th January 2019 To thrive amid the demands and exigencies that the Fourth Industrial Revolution (4IR) presents, mining companies will need a new strategic approach – one that considers not only the full range of industry shifts and risks, but that also provides executives with an enterprise-wide view of their... 

Second Vale dam burst in Brazil likely to curb mining risk appetite

By: Reuters     28th January 2019 Mining company Vale's second dam disaster in Brazil in less than four years deals a blow to an industry grappling with investor wariness and a poor image and casts doubt on new President Jair Bolsonaro's vow to reduce government regulation. Brazilian rescue workers on Saturday were searching for... 

Death toll rises to 58 as hope dims after Brazil dam collapse

By: Reuters     28th January 2019 Brazilian rescuers searched into the night on Sunday for hundreds of people missing after a burst mining dam triggered a deadly mudslide, as the death toll rose to 58 and was expected to keep climbing more than two days after the disaster. Rescuers worked past sunset to search a bus thought to... 

US copper projects gain steam thanks to electric vehicle trend

By: Reuters     24th January 2019 Once seen as a laggard in the global mining industry, US copper deposits have quietly drawn more than $1.1-billion in investments from small and large miners alike as Tesla and other electric carmakers scramble for more of the red metal. Four US copper projects are set to open by next year - the... 

Vedanta tells top English court pollution case should be heard in Zambia

By: Reuters     16th January 2019 Lawyers for Vedanta Resources told England's Supreme Court on Tuesday that a case raised against the mining company by nearly 2 000 Zambian villagers should be heard in Zambia not London. India-listed Vedanta, which delisted from London last year but maintains a legal base in Britain, is... 

BP awaits BHP decision on Atlantis spend

By: Esmarie Iannucci     9th January 2019 Energy giant BP has approved a $1.3-billion expansion of its Atlantis field, in the Gulf of Mexico. The Atlantis Phase 3 development will include the construction of a new subsea production system from eight new wells that will be tied into the current plantform, off the US coast. 

Chile copper mines to triple use of sea water in ten years – report

By: Reuters     9th January 2019 Chile's copper industry will triple its use of sea water for industrial processes in the next decade, State copper agency Cochilco said on Tuesday, as global miners in the world's top producer of the red metal seek alternatives amid growing water shortages. Cochilco said in a report that it... 

Imperial Metals hires BMO to speed up restructuring – sources

By: Reuters     15th December 2018 Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1-billion, two sources familiar with the matter said. Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this... 

Alcoa signs up more gas in WA

By: Esmarie Iannucci     12th December 2018 Aluminium major Alcoa has secured three new gas supply agreements that would supply 25% of the company’s Western Australian gas requirements from 2020. Alcoa has struck agreements with providers BHP, Woodside and Chevron, and coupled with existing supply contracts with Santos and Quadrant... 

Australian miners embracing automation in quest for improved safety, efficiency

By: Esmarie Iannucci     2nd November 2018 While the phrase ‘automation’ might evoke visions of a Schwarzenegger-esque future in which machines rise up to take over the world, it has come to have a distinctly different connotation in Australia. From drones being used to safely map, survey and explore mining operations to autonomous trains... 

BHP’s Chief Commercial Officer says relationships are crucial in the supply chain

30th October 2018 While average realised prices have been strong for the most recent fiscal year, BHP’s Chief Commercial Officer, Arnoud Balhuizen has warned to not get too caught up with the numbers alone. “Prices have generally benefited disciplined owner-operators with high quality assets, particularly those... 

Investors doubling their capital injection at IMARC this year

29th October 2018 In only its fifth year, the International Mining and Resources Conference has grown to be one of the largest events of its kind attracting the industry’s biggest operators and investors alike. The most up-to-date numbers show that investors with a staggering $5.4 trillion in assets under... 

Innovation reflects Victoria’s standing in world mining

18th October 2018 Carlton is better known for its boutique retail and dining than the production of niche mining equipment, but a locally owned and operated business is forging ahead in the earth resources sector, and it’s getting noticed. Leveraging localised design, development and production, Southern... 

Samarco could begin partial production in 2020 after dam burst – Vale CEO

By: Reuters     17th October 2018 Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020, Vale's CEO said on Tuesday. Samarco halted operations in late 2015 after one of its dams collapsed, killing 19 people and causing one of Brazil's... 

BHP doubles stake in Ecuador copper project

By: Esmarie Iannucci     16th October 2018 Mining major BHP has subscribed for a further £45-million worth of shares in copper developer SolGold, which is the majority owner and operator of the Cascabel porphyry copper-gold project, in Ecuador. BHP will be issued an additional 100-million shares, at a price of 45p each, taking its... 

Thiess wins A$1.2bn mining contract

By: Esmarie Iannucci     15th October 2018 Mining major BHP has awarded project house Cimic’s global mining services provider, Thiess, with a A$1.2-billion contract at the Mt Arthur coal operation, in the Hunter Valley. The new five-year contract builds on Thiess’ existing agreement, and expands the scope of the contract to include... 

Chinese delegation to witness proudly South African logging system 

By: Martin Creamer     8th October 2018 The high-ranking delegation from China, which is due to arrive in South Africa next Monday to undertake a three-week study of South Africa’s globally recognised mineral reporting codes, will be given insight during their visit into a South African borehole logging system that is poised to go... 

2019 Samarco restart unlikely despite deal with prosecutors – BHP

By: Esmarie Iannucci     4th October 2018 Diversified giant BHP on Thursday confirmed that it had reached an agreement with the State Prosecutor of Mariana in Minas Gerais, in relation to compensation for the impact of the Samarco dam failure in 2015. However, the miner said that operations were unlikely to restart next year. The... 

Latest BDO report shows exploration expenditure continues to trend upwards, with 15% increase on previous quarter

By: Creamer Media Reporter      2nd October 2018 BDO’s report on the cash position of Australian-listed explorers for the June 2018 quarter (based on quarterly Appendix 5B reports lodged with the ASX) indicates that the natural resources sector in Australia is continuing to build momentum, with both investors and exploration companies... 

SolGold CEO: High grades deliver independence

By: Mariaan Webb     28th September 2018 High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a... 

Australian miners spearheading disruptive technology movement – Fitch

By: Nadine James     21st September 2018 Australia’s strong information communications technology and energy infrastructure, highly skilled labour force and government support ensures that its miners will continue to be the frontrunners in implementing technology to cut costs, enhance efficiency and increase mine safety, the latest... 

Poseidon signs Black Swan ore tolling agreements

By: Mariaan Webb     21st September 2018 Base metals firm Poseidon Nickel has found two potential sources of third-party feed for its Black Swan concentrator, which the company is touting as an alternative processing facility for stranded nickel miners following the closure of BHP Billiton’s Nickel West Kambalda concentrator. Private... 

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 Iannucci     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... 

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