Peru's Congress in a terse statement last night announced charges of “an incitement to the crime of rebellion” against Gregorio Santos, the province of Cajamarca’s Maoist governor who has lead violent protests against Newmont Mining's stalled Conga project.
Consulting firm says the top 40 global mining firms earned a record profit of $133 billion last year driven mainly by iron ore, however their market capitalization fell by 25%.
Ross Beaty, the founder of Pan America Silver and Equinox Resources, is not cowed by the bad economic news. He looks at the markets and still sees opportunity.
Three lawmakers from President Ollanta Humala’s ruling Gana Peru party resigned on Monday over the government’s handling of protests against -Xstrata last week, warning that social and environmental protests are threatening billions of dollars of mining projects.
At the moment the draft legislation requires mining companies to disclose on a project-by-project basis what they pay local officials in foreign countries.
Canada topped the global mining and metals sector as the number one target destination by total deal value in the first three months of this year, says international firm Ernst & Young.
The first Canadian mid-market chief financial officer (CFO) survey published today by GE Capital, shows that local metals and mining companies are extremely positive about the current state of the industry, but less optimistic about the state of the world economy.
Copper suffered another sharp drop in New York on Friday with traders reacting to bad economic news from the US in the form of dismal jobs numbers, a crisis in Europe that seems to be stressed to breaking point and a steep drop-off in growth in China, Brazil and India.
