Agreements give a majority stake in the giant Grasberg copper and gold mine to a local state-owned firm, becoming the country’s biggest divestment by a foreign resources company.
The illegal action saw a group of locals spend seven days blocking the only access to the mine in protest for what they call “repetitive abuse” to community members and increasing pollution of their land and only water source.
The Vancouver-based miner said it has signed a non-exclusive letter of interest to form a JV with an undisclosed local company on claims where manganese mineralization has been proven.
Deal with Luminex gives Anglo the right to earn a 60% ownership interest in a JV company, which indirectly holds three copper and gold concessions in Ecuador.
The top item at Christie’s Geneva Magnificent Jewels sale in November will be The Pink Legacy, an 18.96-carat fancy vivid pink diamond expected to fetch up to $50 million.
Malaysian media reported the newly-elected coalition government will shortly begin a three month evaluation of the company's rare earths processing operations in the province of Kuantan.
The new Barrick, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be the world's top bullion producer by both value and output.
