After an 11% increase in 2017’s first quarter, the Canadian Mining Eye index dropped 7% in the second quarter, according to professional services firm EY.
The European Bank for Reconstruction and Development will acquire a 6.16 percent stake in the Canadian company for 1.4 million Canadian dollars ($1.1 million) to further its exploration in Mongolia.
Brazil-based mining company Votorantim Metais Holding SA filed on Thursday for an initial public offering in New York and Toronto, to tap into a wide base of investors betting on a long-term recovery in zinc, copper, lead and silver prices.
Company said it preserved the right to shut down operations in the country and to take legal actions to protect itself and its assets should the dialogue with the ministry of energy and environment fails.
President John Magufuli also directed the central bank to buy the precious stone to boost reserves — the latest twist in a spat with mining firms over alleged tax evasion.
