viernes, 8 de febrero de 2019

Hundreds evacuated in Brazil on fears over mining dams safety

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Mining News Digest
Saturday 9 February 2019
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About 700 people were evacuated from two towns located near tailings dams operated by Vale and ArcelorMittal on mounting fears after last month's breach at Brumadinho, the country's deadliest mine disaster.

SolGold is frustrated at the rejection of its planned bid for Canadian firm Cornerstone, which holds 15% of the Cascabel copper-gold project in Ecuador.

Codelco has halted operations at its Chuquicamata and Ministro Hales copper mines; Freeport-McMoRan suspended El Abra.

Windfall gold project in Quebec tops list and Global Atomic Corp's uranium project in Niger comes in second.

While there are deficits ahead, the global aluminium demand picture will improve.

In the near term, the significant disruption to Brazilian supply will likely keep iron ore prices elevated and volatile.

Gold stocks' young upleg is gathering steam, marching steadily to higher lows and higher highs.

The layoffs come as Glencore considers a plan to stop mining oxide ores at Mutanda.

Arconic has been under pressure from its biggest shareholder Elliott Management Corp to sell itself.

"The 50% tax cut for U.S. Steel to stay in Gary is not going to cause a population growth and employment opportunities."

RioZim said since December, it had experienced "significant and persistent" delays in dollar payments, affecting its viability.

Mopani is one the biggest mining companies in Zambia — Africa's No. 2 copper producer.

Earnings per share for the first half of the year could be up to 97% lower than this time last year.

This week's drama has played out as the most important iron ore user has been offline, with Chinese markets closed for Lunar New Year.

Indicated resource is 423,000 ounces of gold averaging 1.22 g/t Au.

Together with an industry partner, the company built a pilot plant to recycle cobalt, nickel, manganese, and aluminum.

International benchmark spot gold prices were on track for their first weekly decline in three, but were still supported above the $1,300 an ounce level.

Analysts have said that due to pressure on steel prices, the third quarter could be the last good quarter for steelmakers before a long period of muted growth.

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