The miner has also scrapped its 2017 dividend after full-year core earnings fell by more than a third because of a ban on unprocessed mineral exports in Tanzania.
Canada’s top uranium producer is seeing the first improvements brought by higher prices and drastic cost-cutting measures, including the recent haly of its flagship McArthur River mine in northern Saskatchewan.
Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.
Robert Friedland, founder and executive chairman of Ivanhoe Mines, said he would be happy to pay higher taxes if there is stability in Congo's rules and transparency in the accounting of those royalties.
Canada’s Northern Vertex Mining is ramping up production at its Moss gold-silver project towards an initial stacking rate of 2,500 tpd, to later reach 5,000 tpd.