Most commodities, except for the heavyweights gold and oil, are poised for a down year in 2011, the first fall for this sector since the financial crisis hit in 2008.
Three Chinese companies are part of consortiums that have bagged Rs 1,800-crore worth of five contracts awarded by state-owned Hindustan Copper to raise its production four-fold to 12 million tonnes over the next five years.
Formerly called “The Disputed One,” Anglo American’s Los Bronces mine located northeast of Santiago, Chile, is living up to its name. The operation, which is expected to become the world's fifth-biggest copper mine, is at the heart of the ongoing legal dispute between the London-based global miner and Chile’s Codelco, the world’s largest copper producer.
Due to the high Australian dollar and low molybdenum prices, Moly Mines says the Spinifex Ridge molybdenum/copper project is sub-economic and the company won't be developing it.
An unprecedented crackdown on corruption in India's mining industry, led by the Supreme Court and state-level agencies such as Karnataka's Lokayukta, coupled with rigorous enforcement of environmental norms is resulting in collateral damage to the economy, with plunging mining output leading to a fall in industrial production and GDP growth.