BHP can’t rescue iron ore market after Brazil dam disaster
'We don’t see the case for any major investment in iron ore' - Mackenzie
'We don’t see the case for any major investment in iron ore' - Mackenzie
It’s taken two tragedies in just over three years, but the mining industry is finally starting to clean up its act.
The Vancouver-based miner said that management decided to leave Purickuta due to “unworkable property conditions."
CEO Andrew Mackenzie said it was too early to say what impact the recent Vale tailings dam disaster will have on efforts to restart BHP and Vale's jointly owned Samarco mine, shut since November 2015 after a dam collapse killed 19 people.
Big mining has remained stubbornly focused on shareholder returns, rather than spending on acquisitions and big-ticket projects.
The company is working with several wearable technology providers so companies can monitor biometric and environmental data to identify whether employees are experiencing dangers or risk, beyond a equipment failure.
Operating cash flow reached $790 million in 2018, and cash and equivalents of $349 million, $1.9 billion in liquidity, and no debt maturities until 2021.
“If China’s mines could produce more they would already be doing so."
Yamana Gold’s stock was up 4.65% in after hours trading.
The company’s share of finished nickel production at the Moa joint venture (JV) in Cuba and Saskatchewan, Canada was 4,294 tonnes, up 4% from last year.