Indonesia surprised the global mining community last week after a new rule – Government Regulation No. 24 of 2012 – was quietly announced on the mining ministry's website. A growing list of nations – and not just radical fringe territories such as Zimbabwe or Venezuela – are pushing for greater control and ownership of the resource sector on top of higher taxes and royalties.
Chile newspaper La Tercera is reporting that an appeals court has suspended environmental authorization for Goldcorp's El Morro project over objections by local communities.
Construction of the mine was due to commence in September this year at a cost of $3.9 billion over five years.
Serial mega-mine developer Robert Friedland said in early February that Ivanplats will be developing the Kamoa mine in the DRC, Africa’s largest copper project that will have a lifespan that can be “measured in generations as opposed to decades.”
South Africa took a step closer on Thursday to create a standalone mining company that will take charge of the government's role in the country's rich resources and with ambitions of becoming involved in the continent's mining sector.
Ivanhoe announced on Thursday its Australian project is producing copper and gold ahead of schedule. Last week the company said Ivanhoe Australia is on the chopping block as its mega-mine in Mongolia requires all its financial resources.
Mexico’s exploration expenditures are the highest in Latin America, reaching a record high of almost US$1 billion in 2011, says the latest report released by the Metals Economics Group’s (MEG), a think tank based in Halifax, Canada.
The country's deputy energy and mining minister says the new regulation that changes the rules on foreign ownership of mines applies to all companies and is not aimed specifically at Freeport McMoRan.
