London-based Anglo American and Chile's state-owned Codelco did not came to an agreement on Friday over disputed copper assets which has had the miners engaged in a bitter legal confrontation for months.
Chile’s government decision to privatize the country’s lithium, announced last week, has the country immersed in a heated debate over who has the right to exploit the vast reserves of the so called “white gold” mineral.
Peruvian authorities met Thursday with representatives of the town of Espinar in southern Peru, to resolve a conflict between the community and Xstrata’s Tintaya copper mine, which they accuse of polluting their land and water supplies.
The mining sector's bellwether companies were all beaten down on Thursday as the price of metals and minerals continued to slide and economic indicators from across the globe painted a bleak picture for the mining industry.
The slide in the spot price of gold triggered by disappointment over the Fed's actions – or lack thereof – yesterday accelerated in Thursday trade with the precious metal giving up $50 or just over 3%.
Canada's embattled Nautilus Minerals dropped 11.5% on Wednesday after Papua New Guinea said it is within its rights to terminate a deal made last year for the development of the world's first commercial seabed mine.
Besieged Baja Mining (TSX:BAJ) added another 14% on Wednesday following good gains the day before to trade at $0.205 after announcing it had negotiated a 45-day standstill agreement with lenders for its Boleo project.
