Industry News
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PNG to lift lockdown despite surge in covid-19 cases
PNG to lift lockdown despite surge in covid-19 cases Papua New Guinea Prime Minister James Marape is pressing ahead with plans to lift lockdown measures in the Pacific nation this week, even as a recent sharp spike in coronavirus infections worries health officials. Marape said a two-wee...Read more -
Mining M&A deals over $8.8 billion in Q2 – report
Mining M&A deals over $8.8 billion in Q2 – report A total of $8.86 billion worth of M&A deals were struck in the metals and mining industry globally during the second quarter of 2020, according to the latest report from GlobalData. This value represents an increase of 29.1% over ...Read more -
Hudbay posts $51.9 million loss, cuts Peru guidance
Hudbay posts $51.9 million loss, cuts Peru guidance Canadian miner Hudbay Minerals (TSX, NYSE: HBM) posted a $51.9 million loss in the three months to June 30, after an eight-week suspension of its Constancia copper mine in Peru weighed on the results. The Toronto-based company revised d...Read more -
China’s booming copper imports an echo of the last crisis
China’s booming copper imports an echo of the last crisis China’s imports of industrial metals are booming. Refined copper imports hit an all-time high of 494,000 tonnes in June and accelerated again in July with the preliminary trade figures implying another record high of 530,000 tonnes...Read more -
Lithium price: Green activists score victory over Atacama salt flats
Lithium price: Green activists score victory over Atacama salt flats Chile’s environmental regulator has withdrawn from its legal battle to defend a compliance plan by lithium miner SQM that it approved last year, according to a filing seen by Reuters, a decision that could prove a major ...Read more -
Shandong Gold calls on Canada to approve Arctic mine buy
Shandong Gold calls on Canada to approve Arctic mine buy Shandong Gold Mining, one of China’s top bullion miners, said its acquisition of a Canadian junior that owns the massive Hope Bay property in Nunavut should be approved for economic reasons. The Chinese state-controlled miner signed...Read more -
Chilean watchdog charges BHP for water misuse at Escondida
Chilean watchdog charges BHP for water misuse at Escondida Chile’s environmental watchdog said on Friday it would charge BHP’s Escondida copper mine, the world’s largest, with drawing more water than its permits allowed for nearly 15 years. The Superintendence of the Environment (SMA) said the o...Read more -
Glencore copper production drops 11%, cobalt by third
Glencore copper production drops 11%, cobalt by third Glencore Plc (LON: GLEN) said trading profit will be at the top end of its target this year but posted lower production figures for its first half. The company had nearly $1 billion in earnings before interest and taxes in oil trading in the ...Read more -
Centamin earnings soar on higher gold prices, output
Centamin earnings soar on higher gold prices, output Egypt-focused gold miner Centamin (LON:CEY) (TSX:CEE) posted on Tuesday a jaw-dropping 280% rise in net profit for the first half of 2020 compared to the same period last year, on the back of higher output from its flagship Sukari mine,...Read more -
Orocobre, EnergyX join forces to develop ‘green’ lithium extraction technologies
Orocobre, EnergyX join forces to develop ‘green’ lithium extraction technologies Orocobre (ASX: ORE) and Energy Exploration Technologies (EnergyX) have announced that they will be working together on the implementation of direct lithium extraction technologies with the objective of promot...Read more -
Endeavour plans to initiate dividend payments – CEO
Endeavour plans to initiate dividend payments – CEO Endeavour (TSX: EDV) expects to reach a net cash position in the coming quarters, at which point it intends to pay an initial dividend, the company announced on Wednesday. With the current gold price outlook, dividend initiation could co...Read more -
Canadian miner’s multi-million dollar suit against Kazakhstan dismissed
Canadian miner’s multi-million dollar suit against Kazakhstan dismissed An international tribunal has dismissed a nearly $1 billion claim against Kazakhstan brought by a Canadian junior miner over a botched deal to operate gold mines in the country. Gold Pool JV Ltd. was charged in 1996 w...Read more