miércoles, 23 de mayo de 2018

Rio says investors to take stance on Oyu Tolgoi as ‘test case’

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Copper News Digest
Thursday 24 May 2018
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Rio Tinto has called for less interference at its giant copper and gold mine in Mongolia, as it moves forward with an underground expansion.

Company confirmed is in talks to sell its stake in the world's second largest copper mine to Indonesia's Inalum.

MINING.com discusses the state of private equity investment in mining with Michael Scherb founder of Appian Capital.

"You're starting to see AI being used in some quite interesting ways within processing."

WHO: Risk of international spread of deadly disease from Congo, responsible for 66% of global supply of critical battery raw material, is "very high".

Coronet Metals to acquire 3,888 mineral claims in the Meguma Gold Belt.

Southern Copper's Manager of Technical Services said that the company has been able to knock down previous resistance from local communities.

Britain's Serious Fraud Office plans to open a formal bribery investigation into Glencore and its deals with Israeli billionaire and former partner Dan Gertler.

Quellaveco is one of the world's largest untapped copper orebodies and Anglo's board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.

Despite mining contributing about 6 per cent of the country's GDP, a study revealed that almost six out of 10 of young Australians know nothing at all about mining careers.

Commercial production is expected in the second quarter of the year.

"Lead from a raw materials side is probably the tightest commodity market out there."

Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.

By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye's were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).

Net supply impact for China only around 100kt in 2018 says new report.

Vancouver-based Strongbow Exploration expects the London listing to help it raise 25 million pounds ($34 million) over the next 18 months, which will use to study the feasibility of resuming production at the South Crofty tin mine in Cornwall.

The Deputy Secretary for Sustainable Mining is scheduled to meet with executives from Australia's largest mining companies and banks.

Orvana Minerals' subsidiary in Spain has plans to reopen the Carlés gold mine, located in the Salas municipality of the Principality of Asturias.

According to the miner, five other rescued employees remain in a stable condition and are making good progress.

The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.

Indicated and inferred gold equivalent resources increased by whooping 208% and 172% respectively, when compared to the project's maiden mineral resource estimate of 2015.

Recent data released by the Northern Australian Geochemical Survey reveal that there are potential copper hotspots on the Queensland-Northern Territory border.

Nevsun, who declined the offer for the fourth time, said the proposal undervalued its Timok copper-gold project in Serbia and that junior Euro Sun was "not an attractive partner".

The miner said it would take up to three months for stocks to return to normal, which will affect both projected output and sales in the six months ending June 30.

There's a well-thumbed playbook for how deals involving gold mines in the remote jungles of Indonesia are meant to turn out.

Lack of clarity on environmental rules, overlapping federal and local taxes, and regulations that vary from province to province continue to loom over proposed mines.

It's becoming hard to keep track of all of Glencore's legal battles in the Democratic Republic of Congo.

The glacier inventory is now the most authoritative document indicating where the no-go zones are for mining.

The unit has been shut for more than 50 days.

The company also said it plans to reduce investment in oversees assets and focus on domestic operations.

Lundin Mining's board of directors, chaired by billionaire resources tycoon Lukas Lundin, refuses to invest in Eritrea.

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