jueves, 21 de junio de 2018

Chile antitrust watchdog probing Tianqi buy of lithium miner stake

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Latin America News Digest
Friday 22 June 2018
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The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,

Miners around the globe produced 330,000 more tonnes of copper between January and March this year than in the same period of 2017, helped by higher production in world's leader Chile.

First Quantum will invest $1.5 million to advance exploration work at the Orquideas and Cascas assets in the first year, with the option of investing an additional $37 million over the course of the subsequent four years covered by the deal.

Sumitomo's move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.

The world's top miner is said to have hired Goldman Sachs to assist with the sale of the Western Australia-based nickel operation.

Alicanto Minerals will retain 100% of Arakaka gold project.

The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China's Tianqi Lithium.

Sale is part of chief executive Andrew Mackenzie's bid to focus on large assets in commodities such as iron ore, copper and oil.

Four people died and five were injured following a landslide at an artisanal gold mine in the town of El Retiro.

Exploration manager.

Anglo will sell a 21.9% stake in its Peruvian copper project to Mitsubishi, increasing the Japanese firm's stake in the venture to 40%.

The two separate decrees aim at making the local industry more competitive and sustainable, while while implementing rules on the collection of higher mining royalties.

It produced 4,600 tonnes of lithium more than Chile in 2017 boosted mainly by record output at Mt Cattlin and Mt Marion mines.

Project is expected to extend Fort Knox mine life to 2030 and generate 17% internal rate of return (IRR) at a low capital cost.

Transiting Voisey's Bay nickel mine from open-pit operations to underground will cost about $2 billion, and is expected to extend its productive life to 2035.

A dam filled with liquid waste collapsed last Monday at Rio's Cieneguita mine in Chihuahua.

The battery cell maker is working on the first section of the factory, in Skellefteå in the north of Sweden, which will be completed in 2020 and produce eight gigawatt cell capacity per year.

The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .

The takeover offer, which expires next week, offers great exploration potential because Avanco owns a vast landholding in the copper and iron ore-rich Carajás region, second only to giant Vale.

Up 8% at the open after intersects add more bulk to already massive Cascabel copper-gold project in north of South American country.

The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.

The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually.

A judge from the Ecuadorian province of Cuenca ruled that Ecuagoldmining South America S.A violated article 57 of the country's Constitution.

Chilean lithium producer SQM shares punished after $1 billion of shares auctioned below ruling price.

The company, which began operations a year ago, said the move seeks to strengthen its communication with key stake holders and consumers.

The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.

While the global mining industry is quickly becoming more digitally mature, that transformation continues to focus on productivity and profitability, rather than on much needed innovation, a new study shows.

The company had warned last week that operations at the open pit mine would be affected by the strike, as fuel and consumables failed to be delivered to site, while road blocks on highways prevented sending output to port.

Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.

In late April, Millbrook Minerals became the first copper-zinc explorer to sign an International Economic Association (IEA) contract with Cuba's GeoMinera, becoming the first Canadian firm to sign a deal with the Island since the mid 90's.

Resolving the legal cases will allow talks with creditors to begin as the company starts to draft its long-term business plan.

The deal also includes a 2 percent increase over current base salaries.

The union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3 pm local time on Monday.

How did we get here and what does this ratcheted-up trade war mean for Canada, the United States and investors?

Global miners face a new reality in Brazil as local, judges included, react quicker and more ferociously to legal infractions.

SQM has retained former chairman Julio Ponce as an adviser despite an agreement to distance himself from the firm to end a long-running royalties dispute.

Some Republican lawmakers warn that Trump could trigger a trade war that would destabilize the economy and ultimately hurt American workers.

As of Tuesday, Mexico will impose tariffs of 15 percent to 25 percent on U.S. steel products.

The world's two biggest economies need to agree on a new framework that will allow both of their economic systems to co-exist.

China is Peru's top trade partner and imports most of the minerals the South American country produces.

The major silver miners' stocks remain deeply out of favor, languishing near multi-year lows.

Southern Copper Corp. is preparing to scale the ranking of global producers by spending more than $10 billion in Peru and Mexico.

Aluminium in particular shows why tariffs are such a poor trade weapon.

Trump's tariffs on Washington's closest allies also drew condemnation at home from Republican lawmakers and the country's main business lobbying group.

The Anglo-Australian miner has until mid-June to respond to the union's demands.

Higher production doesn't necessarily mean higher oil prices are entirely out of the question.

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