Serabi Gold noted it remains optimistic as there already are “a number of other groups keen to partner” with them.

Baatar's role in the expansion of Oyu Tolgoi and the $6.2bn Simandou iron ore project highlights his suitability for the post.

Illegal miners used dynamite to knock down two high-voltage towers at the Poderosa gold mine in Peru.

Regular monitoring has detected an increase in the chemical reactions that generate dangerous gases and a rise in the temperatures of the copper concentrate stored at the Cobre Panamá mine.

Research shows that the Dry Andes region of Chile, Argentina and Bolivia is more sensitive than previously thought to environmental change and human activities such as mining.

The new currency, ZiG, will be supported by a combination of foreign currencies, gold and other precious metals.