Billionaire Beny Steinmetz’s mining company has sought bankruptcy protection in the US, two months after losing a $2 billion arbitration award to Brazilian mining giant Vale.
Venezuela has defaulted on a gold swap agreement valued at $750 million with Deutsche Bank, prompting the lender to take control of the precious metal which was used as collateral.
The Bank of Russia made the change to its pricing policy this year, saying it would buy from dealers at a level slightly below the benchmark London gold price.
The race by Tesla, Samsung and other technology giants to secure supplies of lithium is creating a unique chance for two global mining superpowers to reap more value from their natural resources.
President Xi Jinping wants the nation’s 500 electric car makers to be magnets for ancillary industries as he pushes to build a manufacturing superpower by 2025.
Zambia’s government this month began liquidation proceedings against Vedanta’s Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax.
The generational change at the top of Glencore Plc gained speed on Monday, after the company announced the retirement of its long standing head of oil Alex Beard.
The new government intends to look into establishing a mining tax and analyzing the possibility of taxing capital gains from the sale of mining rights.
President Vladimir Putin has pushed Russia to develop its own rare earth production, calling it an issue that’s " critically important to the defense capability of the country.