jueves, 15 de noviembre de 2018

Pan American Silver buys Tahoe Resources for $1B

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Mining News Digest
Thursday 15 November 2018
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Deal creates one of the world's biggest silver mining companies.

Canada's largest diversified miner has been looking for a development partner for the $4.8-billion extension of Quebrada Blanca copper mine in northern Chile.

CEO Matt Mason will be replaced by chief operating officer Patrick Godin, who joined Stornoway in 2010 and was appointed to the board of directors in 2011.

Exploration drilling at the Kamoa North prospect area, which forms part of the company's Kamoa-Kakula mining licence, has defined two new, continuous corridors of shallow and high-grade copper mineralization.

While the project known as S11D isn't scheduled to hit its 90-million-ton capacity until 2020, China's appetite for the mine's low-cost, high-grade ore continues to grow.

Budgets jumped about 19%, outpacing last year's gain.

New York-based Paulson & Co maintained its stake as spot gold prices declined more than 5%

The battery-driven underground loaders create improved safety, reduced greenhouse gas emissions and lower operating costs.

Under the agreement, Premier Gold can acquire a 100% stake in the 206-hectare Rodeo Creek land package.

The project saw a 97% increase over the previous resource.

A large component of every World Mining Competition case is an extensive financial analysis.

Golden Ridge spent $4 million on exploration at Hank and completed nearly 11,000m of diamond drilling.

Sibanye-Stillwater currently employs over 32,000 people at its South Africa gold operations.

China, the leading holder of international deep sea exploration licences, increases its lead in the race for alternative sources of battery minerals by taking samples from cobalt-bearing mountains deep in the Pacific.

Cavalcanti joins Samarco as it attempts to renegotiate billions of dollars in debt with creditors and restart operations after a tailing dam burst in 2015, killing 19 people.

China is the world's biggest consumer of the metal but its own copper mine production has been stagnating amid a broad crackdown on pollution, exacerbating a heavy reliance on imports.

Swedish mining equipment maker Epiroc AB is aiming to electrify all its underground machines within five years.

Iran executed a gold dealer known as the "Sultan of Coins," in a warning to merchants not to exploit the country's financial troubles as U.S. sanctions squeeze the economy.

"They are taking unilateral decisions that we haven't verified, that we haven't certified" – Gecamines President, Albert Yuma

Gold's second straight quarterly decline was not enough to shake billionaire hedge-fund manager Ray Dalio's confidence in gold.

Disruptions to cobalt supplies in the DRC are not expected to eradicate a glut of the material used to make batteries for electric vehicles, thwarting hopes that prices can be boosted from their lowest since March last year.

The Vancouver-based miner acquired Altos De Punitaqui, a producing copper-gold operating company.

The miner said the strike is a breach of the Collective Labour Agreement.

ArcelorMittal's entry into India comes at a time when Indian steel demand is growing at the fastest pace in the world.

Emden, Hanover and Zwickau will form the largest network for the production of electric vehicles in Europe.

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