domingo, 20 de enero de 2019

Ecuador’s rising opposition to mining may thwart exploration boom

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Latin America News Digest
Friday 18 January 2019
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As mining projects face headwinds from rising tensions, investors' courage will be tested, says Fitch Solutions Macro Research, which could hinder Ecuador's plan to attract $4 billion to the sector by 2021.

The funds will enable the company to expand activities in south-west England and to drill exploratory boreholes to extract samples of lithium-bearing brines.

Based on answers from 51 senior executives, lawyers White & Case say that trade tensions are the second largest challenge for the mining industry in 2019 and reveal what the underlying full-picture looks like.

Canada's cobalt sector and Ecuador's budding mining sector for copper and gold will be investment hot spots.

Toronto-based private-equity firm Waterton Global Resource Management is launching a proxy fight with Hudbay Minerals, pushing to overhaul the board and oust its chief executive over alleged "mismanagement."

For 2019, the Canadian miner forecasts gold production of between 935,000 and 975,000 ounces at all-in sustaining costs estimated at between $835 and $875 per ounce.

Some of the mining world's top executives are starting to plan their departures.

The precious metals miner produced 175,561 ounces of ore last year, 15% more than the 152,329 it churned out in 2017.

Ecuador's largest underground precious metals mine is on track to begin production before the end of the year.

Massive deal creates company that challenges rival Barrick as the world's largest gold producer.

The largest firms in the world are likely to remain committed to spending cuts.

Contracted workers are alleging unsuitable working conditions.

In 2018, the Canadian miner produced 354,000 ounces of gold at its El Limón Guajes Complex.

El Niño could impact countries such as Brazil, Colombia, and Ecuador that heavily rely on hydroelectric plants to generate.

The Canadian junior expects to mine 230,000 to 265,000 gold ounces this year from both Aurizona mine in Brazil and its recently acquired Mesquite gold operation in California.

Production of the red metal, the agency says, could reach a record of 7.25 million tonnes as early as 2025.

But over the long term, the global copper deficit is expected to shrink, and the market will shift to oversupply.

There are real costs associated with conducting project cost estimates in-house.

The complaints come six days ahead of a special shareholders meeting on January 8.

Ruben Fernandes, who has led the company's iron ore and nickel interests in the South American country for almost three years, will become CEO of Base Metals effective March 1.

Company has discovered a new copper and gold mineralization at its Porvenir project, located in southern Ecuador.

Barrick now trades as GOLD in New York and continues as ABX in Toronto.

The founder of the US private security company aims to raise as much as $500 million to invest in deposits of metals such as cobalt, lithium and copper.

Bullion futures held near a six-month high after topping $1,280 an ounce.

The attention of the mining industry has shifted.

The Oyu Tolgoi project is central to Rio Tinto's push to diversify its portfolio away from iron ore.

The reduction in global expectations for the price in 2019, coupled with the trade war, will keep investors away, maintaining a downwards trend in the price for the short term.

Newly installed Senator is ready to take on firms that he says don't pay enough taxes, pollute the environment and enjoy concessions he deems are too long.

The internal review found "significant errors" in CCHEN's accounting of the sales of the world's top lithium producers Albemarle and SQM between 1984 – 2015.

IAMGOLD expects to produce fewer gold ounces while incurring higher all in sustaining costs and total cash costs in 2019 compared to 2018.

The project is adjoining Barrick and Goldcorp's Pueblo Viejo gold-silver mine.

The move has comes as Vale aims to generate all of its energy needs from renewable sources.

The global initiative requires member countries to disclose how they allocate licences and how much they receive from the companies in tax, royalties and other contributions.

As the saying goes, if you think knowledge is expensive, try ignorance.

Anglo American has obtained hundreds of permits to explore in the Brazilian states of Mato Grosso and Para.

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