Sojitz to sell stake in Gibraltar copper mine to Taseko
The Japanese trading house said reasons for offloading its interest in the Canadian mine included unstable operations, declining grades and increased risk of environmental liabilities.
Costs to expand the Mongolian mine, Rio's biggest copper growth project, have ballooned up to $6.75 billion from Rio's original budget of $5.3 billion in 2016.
The proposals involve buying coal plants in developing economies in Asia and operating them for as long as 15 years before closing the sites ahead of current schedules.
Fitch forecasts Australian bauxite production growth to average 4% y-o-y in 2021, and Guinea's bauxite output to rise from 84.5mnt in 2021 to 133.8mnt in 2030.