After months of difficulties, Rio Tinto’s (LON:RIO) flagship Mongolian copper-gold mine, Oyu Tolgoi, will start producing early next year as the giant miner has finally solved the issue of power supply from next-door China.
Mining executives have given a clear indication that they plan to slash capital spending and reduce supply in order to improve shareholder returns at the expense of consumers.
The leader of the Australian Greens party say the incumbent Labor government should revise its original mining tax plan to lift revenue generated by the tax from AUD$9 billion to $26 billion over the next four years.
The head of the Australian Stock Exchange says the country should prepare for another mining boom in around a decade's time by providing exploratory tax concessions to resource juniors.
Canadian miners Petaquilla Minerals Ltd. (TSX:PTQ) and Inmet Mining Corp. (TSX:IMN) have been on the news in recent weeks as the companies locked horns over land rights near the Cobre Panama copper project, run by Inmet’s subsidiary Minera Panama.
The international resource sector faces rough waters ahead according to an industry insider who has just completed a round-the-world tour of key mining regions.
