viernes, 31 de agosto de 2018

China’s Zijin wins race for Serbia’s largest copper mine

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Saturday 1 September 2018
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RTB Bor copper mining and smelting complex was crucial for Serbia before the collapse of communist Yugoslavia. However, it later became a burden on the country's struggling economy because of malpractices and international sanctions.

Temporary suspension of mining activities comes after about 100 people trespassed and demanded payment for alleged environmental impacts of the operation on their community.

The Toronto-based miner, which is developing a large untapped gold deposit in a remote part of Northern Ireland, will seek final approval of the transaction by the Ontario Superior Court of Justice early next week, with the deal expected to close on or about Sep.7, 2018.

Toronto-listed company's board okays construction of Pumpkin Hollow underground mine.

The Goulamina mine is one of the world's largest undeveloped high-grade lithium deposits and will represent 15% of the current global lithium supply.

After a vicious selloff precious metals have stabilized. Its not a surprise given the breadth and sentiment extremes we noted and had predicted earlier.

The deal requires more than 50 percent approval in a vote by Sibanye investors, in addition to Lonmin's shareholders' approval.

Among the investments, it referenced two new lithium mining projects, three copper and one gold, totalling $5.9 billion.

Ganfeng Lithium Co Ltd has filed for a Hong Kong stock market flotation, betting on a rise in demand for lithium as electric cars become more mainstream.

Platinum miner Zimplats on Friday reported a 94 percent drop in after-tax profit to $2.6 million after incurring a higher deferred tax charge.

The company expects to produce approximately 1.7 mln tonnes of copper in the whole of 2018.

The move threatens to jolt China's exports of aluminium, which have been booming in recent months. Mexico "is a big market" for Chinese aluminium foil.

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