Metals producer Doe Run Peru’s creditors rejected a restructuring plan the company presented with a view to restarting operations at the La Oroya smelter, said in a statement the Energy and Mines Ministry, Jorge Merino Tafur.
The Minerals Council of Australia (MCA) resumed today an ad campaign initially launched in July last year, attacking alleged hikes on the federal government's mining and carbon taxes.
Victor Wyprysky, President and CEO of Chieftain Metals Inc., commented: "Chieftain's immediate attention to provide a solution to the historic environmental issues at Tulsequah demonstrates the high importance we place on community and stakeholders concerns as we move "The Chief" to construction start."
The Vancouver company earned a profit of $26.4 million on $133.5 million in revenues for the year, up 145%, after drilling an astonishing 585,900 meters for minerals and a further 444,400 meters for energy last year.
The Vancouver-based miner gave up another 3% on Monday, bringing its losses over the past trading week to 15% as worries about grades and costs at Oyu Tolgoi – one of the richest copper and gold mines in the world – continue to mount.
Silver moved into the second quarter displaying a pattern investors are likely becoming all too familiar with, whereby the market shows signs of strength at the opening of the week, responds negatively to a midweek disappointment, and attempts to claw its way back with the approach of the weekend.