Freeport halts Grasberg mine, begins sending workers home
The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.
The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.
Ellis Martin speaks with Simon Moores, an analyst at Benchmark Mineral Intelligence a London-based consultancy and research firm focusing on critical and industrial metals.
EY’s Canadian Mining Eye index declined 13% in the last quarter last year as weak gold and nickel prices offset copper and zinc gains.
The miner says the decision is clearly “abusive” and it evidences “an excess of jurisdiction,” reason why it will appeal the resolution.
While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.
It may not be necessary to fire a billion-dollar spacecraft into orbit in order to find out the potential of mining asteroids.
Should the government go ahead with all the recommended shutdowns and suspensions, global supply of nickel will drop by about 8%.
The junior miner has begun proceedings against the Quebec Ministry of Forests, Wildlife and Parks (MFFP) in the superior court over a denied permit.
Miner says that each month of delay in obtaining approval to export means production would be reduced by 70 million pounds of copper and 70,000 ounces of gold.
B2Gold escapes crackdown in Philippines, but Australian-Canadian OceanaGold has mine suspended.