Mining industry
Reports surrounding Ivanhoe Mines' massive joint venture with Rio Tinto in Mongolia have sent shockwaves through the global financial community, with several journalists misquoting a crucial figure related to the Oyu Tolgoi gold and copper mine. The mistake, which has been likened to a "Barnaby Joyce moment,"
Mining industry
Australian-listed Newmont Mining Corporation has announced that it is facing industrial action at its Batu Hijau copper and gold mine in Indonesia, with approximately 200 to 300 workers downing tools on Monday. Despite this, the company remains committed to negotiations with the strikers and maintains that lines of communication are
Mining industry
Freeport-McMoRan Copper & Gold Inc. is closely monitoring the molybdenum market to determine when to restart its Climax project, which was suspended in October 2008 due to market conditions. The company is investing $60 million to advance certain construction activities, providing flexibility in startup timing options. Climax is planned to
Mining industry
Tombstone Exploration Corporation has announced the completion of its Helicopter-borne time domain electromagnetic GeoPhysical ZTEM program, a significant step in the company's exploration efforts in the Tombstone Mining District. The program's high-resolution imaging capabilities will aid in identifying targets for a potential giant, high-grade porphyry copper-gold
Mining industry
Environmental authorities in east China's Fujian Province have confirmed that a copper mine has contaminated a river, causing a massive fish kill. The incident has resulted in the deaths of approximately 1.89 million kilograms of fish in the Mianhuatan Reservoir in Yongding County. The smell of dead
Mining industry
Australia's current economic boom is facing a potential setback as the iron ore boom fueled by China's demand rapidly cools down. This decline in demand has severe implications for major Australian mining companies, including BHP Billion and Rio Tinto, which are set to release their production
Mining industry
China's state-owned NFC Africa plans to invest at least $500 million in developing the Chambishi South copper mine in Zambia's Copperbelt province. Meanwhile, Russia's aluminum exports fell by 2.24% in the first five months of the year, while copper exports increased by 19.
Mining industry
A major development in the global mining industry has unfolded with Vale SA and the United Steelworkers union reaching a deal to end an 11-month strike at Vale's nickel operations in Sudbury and Port Colborne, Canada. Meanwhile, the Russian mining giant OAO Norilsk Nickel has been embroiled in
Mining industry
U.S. stocks experienced a decline, with the Standard & Poor's 500 Index dropping for the fifth time in six days, amidst declines in oil and metal prices that negatively impacted commodity producers. Exxon Mobil Corp. saw a 1.1% loss as oil prices fell from a seven-week
Mining industry
Peru, the world's largest silver producer and a major gold, copper, and other metal producer, saw its mining output decline in May from the same period last year due to various factors including lower production at key mines. According to the Peruvian Ministry of Mines and Energy, gold
Mining industry
India's stock market fell for the second day as investors expressed concern about the strength of global economic recovery. Prime Minister Manmohan Singh and investor Jim Rogers warned about the fragility of the recovery, while disappointing earnings forecasts at US companies fuelled concerns about growth in the world&
Mining industry
India's stock market experienced its second consecutive day of decline, with investors pulling back from riskier assets due to growing concerns about the pace of the global economic recovery. The Bombay Stock Exchange's Sensitive Index, or Sensex, dropped by 0.5 percent to 17,647.41,
