Canada vs US: how exchange rates impact mining salaries

“With this mining policy we can no longer be ignored or imposed upon"

The country’s congress passed Friday legislation to increase mining royalties from 5% to 10%.

The stock closed in Sydney below the $30 mark, which is the lowest it has traded in the last five years.

Canada is tying foreign aid to overseas mining development. It’s touted as “win-win,” but in Burkina Faso there are already some losers.

The mining giant said it was committed to giving significantly more money back to shareholders in 2015 despite a severe drop in iron ore prices.

The sum will be given on the completion of the sale of 15% of its Solwara 1 project to an entity nominated by Papua New Guinea.

The investment will allow for a fourth pipe to be developed at the site, with production expected to start by 2018.

The miner plans underground operations at North Mara and inked a deal that could see it acquire up to 70%of a project in Burkina Faso.

Founding managing director Mike Young among the ones leaving the company.