Value of top 50 mining companies surges $600 billion from covid lows
Despite gold's price slump, strong copper and iron ore prices lifted MINING.COM's ranking of the world's 50 most valuable miners to a new record high of $1.35 trillion.
South Africa's Richards Bay Coal Terminal has boosted productivity after a 1.34 billion rand ($98 million) machinery upgrade, the firm said on Thursday.
The new measure will affect global mining firms including First Quantum Minerals, Glencore, Barrick Gold Corp and Vedanta Resources which currently pay a flat rate of 9.30 cents/kWh.
Junior miners exploring for cobalt in the DRC reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed.
Miners around the globe produced 330,000 more tonnes of copper between January and March this year than in the same period of 2017, helped by higher production in world’s leader Chile.
The industry argues that the free carry -- which means the respective groups don’t have to buy their shares or pay their way -- will make new developments even less likely.