miércoles, 25 de julio de 2018

BHP final pay offer to Escondida workers falls short of union demands

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Thursday 26 July 2018
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BHP has offer workers a signing on bonus of $27,000, up from an earlier offer of $23,000, plus a 1.5% salary increase, but still well under the bonus up to $43,000 and 5% increase demanded by Escondida's union.

Production in the second-quarter of the year jumped 6.1% to 163,200 tonnes, as higher output at its Centinela and Antucoya mines mitigated declines at Los Pelambres and Zaldívar.

The ongoing trade war between the United States and China has forced the Chilean Copper Commission (Cochilco) to revise downwards its average copper price prediction by $0.06 per pound to $3.

Companies can now perform non-systematic drilling during the early exploration phase of their mining concessions and without requiring an environmental license.

Study released Tuesday by the Fraser Institute, British Columbia, Ontario and Quebec are the three main provinces where exploration permit processes have grown longer and less transparent over the past 10 years.

The company was deemed not eligible for an automatic approval of its drilling permit for the Cerro Hermoso project.

Find the cobalt.

From the $939bn invested in major projects between 2008 and 2017, the world's top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.

Canadian researches came to such conclusion after spending years examining waterbodies located within five kilometres of abandoned mine sites.

Starting on July 30, the LME will start providing a set of synthetic monthly prices for the six main base metals — copper, aluminum, zinc, lead, nickel and tin.

The base metals producer said that, while it has not yet received a formal offer from Lundin, the bid announced Monday the bid ignores the fundamental value of the company and its assets.

The possibility of a strike was talked about over the weekend.

Over 1,500 mining companies were operating in the South American country in 2016.

The Canadian miner plans to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru.

Company believes its Cascabel copper-gold project, 180 km north of the capital Quito, may become one of the largest copper-gold porphyry systems ever discovered.

To stay productive, McKinsey warns that miners must maintain fiscal discipline.

Chile-focused miner said proceeds from the sale would enable it to focus on its core activity of producing copper.

They claim mounting investigations into the firm's dealings in the DRC, where it's heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.

The world's No.2 miner is selling its 40% in the giant Grasberg mine, the world's second largest copper operation, to Indonesia's state mining company PT Inalum.

An international group of researches have recommended 18 quantitative metrics that regulators can use to assess seabed mining projects.

Even after two years of gains, industrial metals trade well below 10-year mean prices. Silver looks cheap, but gold, crude may be fully priced already.

Tiger expects to release a new Life of Mine Plan for the assets in 6-8 weeks.

Targeting close or ready for production.

From the 32 contracts set to expire in 2018 at Chilean mines, there still are more than a dozen to be negotiated before year-end.

The smelter was shut down in May after 13 people died after coming under police fire during violent protests over alleged pollution.

Shares in the miner jumped more than 3% after both quarterly and full-year production rose 3% on improved productivity.

Nobody who owns a copper mine wants to give it up. Even when Glencore and Anglo American Plc were crippled by debt during the 2015 commodity slump, neither was willing to entertain an offer from Rio for their holdings in the giant Collahuasi deposit in Chile.

South Africa's mining industry is heading for the deadliest year since 2012 after six people died in an underground fire at Palabora Mining.

China, the biggest consumer of everything from copper to coal, has warned that the proliferation of tariffs could cause a global recession.

Thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo slabs of copper to the ground and disappearing.

The U.S. election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump's trade war against China threatens to derail economic growth.

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