Company believes its Cascabel copper-gold project, 180 km north of the capital Quito, may become one of the largest copper-gold porphyry systems ever discovered.
They claim mounting investigations into the firm’s dealings in the DRC, where it’s heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.
The world’s No.2 miner is selling its 40% in the giant Grasberg mine, the world’s second largest copper operation, to Indonesia’s state mining company PT Inalum.
Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia.
Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said.
Foreign direct investment in Chile hit $8.48 billion from January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency said on Wednesday.
