As opposed to the oil and gas industry, which has made considerable advancements in exploration technology over the past 70 years, the mining industry largely relies on technologies used for hundreds of years.

Once fully ramped up, Reko Diq and Lumwana are expected to become two of the world’s top 20 copper mines by annual production.

Gerald was hit by a loss in its tin book earlier this year.

The biggest value drivers of the transaction will come from Newcrest’s two Tier 1 operations, Cadia and Lihir.

Shanxi Donghui Energy Group bought the mine from Ivanhoe Australia in 2013.

The board of directors has voted to elect Robert Harding, who has been a director of First Quantum since 2013, as the interim chairman.

After concluding its metal stocks inventory, Aurubis identified damage amounting to 185 million euros.

Buyers lack conviction and the view from the factory floor remains cautious as margins are suppressed and profits wither.