Hochschild Mining Plc on Wednesday raised its annual output target and forecast lower mining costs, as its Inmaculada mine in Peru produced higher grade ore.
The Aviles and La Coruna plants were two of the least productive due to intrinsic structural problems such as inefficient technology and high fixed costs.
The move comes two weeks after India's top court said ArcelorMittal's bid for Essar Steel would become valid only if the acquirer cleared outstanding debt of Uttam Galva Steels and KSS Petron.
State-owned miner Inalum said the $3.85 billion deal is still subject to the issue of environmental recommendations and a special mining permit (IUPK) by the Indonesian government.
Hungary’s central bank increased its gold reserves 10-fold, citing the need to improve its holdings’ safety, joining regional peers with relatively high ownership in the European Union’s east.