Ecuador reaches compensation deal with Petrobras over assets

Ecuador agreed to pay Petrobras $217-million as compensation for seizing assets from the Brazilian state-run oil company in 2010, at least 30 percent more than a previous proposal. Ecuador took control of the oil assets owned by Petrobras in the...

State capitalism: Is it a rival to market capitalism?

Since the start of the current global economic crisis in 2008, there has been renewed interest in the concept of ‘State capitalism’, as distinct from ‘market capitalism’. (The term ‘liberal capitalism’ is shorthand for ‘liberal...

Is it a rival to market capitalism? And how does it affect the natural resources industries?

Since the start of the current global economic crisis in 2008, there has been renewed interest on the concept of “state capitalism” as distinct from “market capitalism”.

Venezuela to develop Cristinas gold mine with China

Venezuela will develop its huge Las Cristinas gold project in partnership with Chinese state investment company CITIC, President Hugo Chavez announced on Friday. The government last year cancelled Canadian company Crystallex International's...

SA improves in global mining ranking – survey

South Africa ranked 54th out of 93 global mining jurisdictions in this year’s Survey of Mining Companies, compiled by Canada’s Fraser Institute. This compared with South Africa’s 67th place out of 79 jurisdictions last year. South...

Fraser Institute poll names New Brunswick most attractive mining jurisdiction

New Brunswick has snatched the title as the most attractive jurisdiction to explore for minerals and build mines in the Fraser Institute’s yearly survey, jumping from last year’s position of twenty-third to beat Alberta. Of the 93...

Kilo Goldmines outlines plans for Afghan iron-ore deposit

Kilo Goldmines, which Afghanistan’s Ministry of Mines named as a preferred bidder to develop part of the massive Hajigak iron-ore deposit, could conclude talks with the government over a mining right for the project by mid-year, CEO Alex van...

Mining-heavy SA industry group issues carbon tax warning

An industry lobby group comprising large mining groups and mineral processing companies is cautioning against the proposed introduction of a carbon tax in South Africa until South Africa has fully charted its abatement potential and the costs...

Global Witness pulls out of blood diamond scheme

Campaign group Global Witness has pulled out of the Kimberley Process, a scheme designed to prevent "blood diamonds" from entering the mainstream market, calling the scheme outdated and a failure, almost nine years after its launch. In a damning...

South Africa urged not to devote time to ‘unsuccessful concepts’ like nationalisation

South Africa does not have time to try unsuccessful concepts, said South African independent policy research and education organisation the Free Market Foundation (FMF) economist Vivian Atud at the FMF nationalisation discussion on November 3.

Anglo American has made a major nickel discovery

Global mining major Anglo American plc has discovered the largest nickel deposit in Europe, the Finnish newspaper Helsingin Sanomat reported last week. The find is located in the Sakattilampi district, north of the town of Sodankylä, in Finnish...

Crystallex says arbitration starts over Venezuelan mines

Crystallex Mining, claiming more than $3.8-billion from the Venezuelan government after president Hugo Chavez seized its gold assets, said the TSX had told it this week it would start delisting review if it found the company to not meet the...