An unprecedented crackdown on corruption in India's mining industry, led by the Supreme Court and state-level agencies such as Karnataka's Lokayukta, coupled with rigorous enforcement of environmental norms is resulting in collateral damage to the economy, with plunging mining output leading to a fall in industrial production and GDP growth.
FLSmidth has been awarded a contract worth approximately USD 105m (approximately DKK 600m) from the Mongolian company, Mongolyn Alt (MAK) Group, to supply a greenfield copper concentrator for a mine some 500 kilometres from the capital city Ulaanbaatar, Mongolia.
Betting that copper prices would rise, Barclays Capital traders lost tens of millions of dollars, sources say, the bank said the losses were not "big" and that there was no "abnormal" trade.
Anglo American said Thursday it had filed a writ with Santiago's Court of Appeals, suing the Chilean firm for breach of contract in a dispute over its south Chilean assets.
