Power shortages, cost cuts to hit Congo’s copper output
With the only exception of gold, production numbers for most other commodities mined in the Central African nation are also expected to decline this year.
A lower copper price and a strike at its Kansanshi mine in Zambia has bit into the bottom line at Africa-focused base metals producer First Quantum Minerals.
Releasing the results of a new engineering study failed to move the markets in a positive direction today for Orko Silver (TSX-V:OK), although the resource-heavy Toronto exchanges were also in the red.
Colombia’s leading coal producers are increasing investments dramatically to improve and expand their ports, in what is considered a key move for rising coal production in the country to 120 million tons within by 2014.
Brazilian Gold Corporation jumped 13.5% on Wednesday on three times usual trading volumes, after announcing positive metallurgical test work at its São Jorge deposit in northern Brazil.
BHP Billiton addressed shareholder concerns about its ambitious investment plans in four mega-projects on Wednesday saying it will match capital expenditures closely with cash flows and stagger the project pipeline.
The High Court of Malaysia today rejected Australian miner Lynas Corp’s (ASX:LYC) application for an injunction against pressure groups that oppose the company’s rare earth plant (LAMP), informs The Malaysian Insider.