Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Disinfecting the protective clothing worn by a health worker. Credit: Ahmed Jallanzo | EPA.
Iron ore and gold producers are among the most at risk when it comes to the most recent Ebola outbreaks, shows SNL Metals & Mining latest report.
They warned there are over 60 companies, including big names such as London Mining and Randgold Resources, which are heavily reliant on production from countries with reported Ebola cases.
READ ALSO: Gold prices hurting miners? Throw Ebola into the mix
“There are 39 assets in production within the Ebola-affected region, associated with 64 different entities with ownership claims. Commodity exposure in the Ebola-affected region is diverse; however, copper, gold and iron ore are the most susceptible with 13, 14 and five producing mines, respectively,” the report says.
Source: SNL Metals & Mining.
SNL notes roughly 1.87 million ounces of gold was mined 2013 in the affected regions by nine gold-mining companies. Gold production in affected areas includes the Democratic Republic of Congo, Guinea, Mali, Senegal and Sierra Leone.
The report says that whether or not Ebola will have a large impact on future mining production is unclear. “However, at the very least, the crisis is expected to result in even further cutbacks to West African exploration programs in the second half of 2014.”
Comments
Ivan Fed
When in doubt,punt! The more stable countries offer greater security than a chance of greater profit!