Investment in Africa’s mining sector to rise: BMI

Tallk of nationalizing South Africa's mining industry may have quieted down recently, but that hasn't stopped some government officials from fanning the flame.

Anglo-Australian mining giant Rio Tinto tightened its grip on Ivanhoe Mines as part of a $3.3 billion financing deal announced this morning, leading to the resignation of chief executive and founder Robert Friedland.

Precious metals miner Fresnillo (LON:FRES), the largest silver producer, reported its first-quarter silver production was in line with expectations, while it said higher-than-expected gold output, owing to the start up of its new Noche Buena mine.

The team of three international environmental consultants hired by Peru’s government has recommended significant changes to Newmont’s hindered $4.8 billion copper-gold project, the Conga mine. But the government is saying its final decision won’t be determined solely by this or any study.

The Canadian government followed through on last month's budget promise to streamline environmental reviews of resource projects with a plan for "responsible resource development."

The International Monetary Fund increased its outlook for the world's economy on Tuesday, saying it expects global GDP to expand by 3.5 per cent this year.

Freeport McMoran Copper & Gold is currently valued so low that it is an excellent target for a takeover, according to media reports today.

The long-awaited and twice-postponed report from international experts on the environmental impact study (EIS) for Newmont and Buenaventura’s US$4.8 billion copper-gold project, the Conga mine, is finally in the Peruvian government’s hands.

The federal government gives just over $4 billion in direct subsidies to mining companies each year, mainly in the form of cheap fuel and tax breaks for building roads and railways, according to a report by the Australia Institute think tank.