After achieving a toe-hold in Afghanistan with the award of a major iron ore contract, Indian companies are turning their attention to the troubled country's copper and gold reserves.
Record annual earnings of more than $2 billion released today by key global copper producer Southern Copper Corp (NYSE:SCCO), were overshadowed by the company’s decision of pushing back the beginning of its operation at the $1 billion Tia Maria project until 2015.
BHP Billiton (NYSE: BHP), the world’s largest mining company, expects to increase production at its Escondida copper mine in Chile to over 1.3Mt/y in the 2015 financial year, said CEO Marius Kloppers yesterday in a webcast to discuss fiscal H1 results.
Canadian miner giant Teck Resources (TSX:TCK.B) reported Thursday a record annual profit of $2.7 billion, up by half from 2010, fuelled mainly by higher coal prices.
Newmont Mining, world number two gold producer, said on Wednesday it has options to spend its capital elsewhere to meet production targets if its $4.8 billion Conga project in Peru does not restart.
A Chilean civil court ordered world's largest copper producer Codelco to publish the agreement for a financing deal of up $6.75 billion with Japan's Mitsui & Co. (TYO:8031), reports the online version of local newspaper El Mercurio.
An indigenous Ngöbe-Buglé teenager was killed and 40 people were injured in connection with a police crackdown on dissent over mining and hydroelectric developments in Panama, where Canadian mining companies have a large presence.
