Dowling shared his thoughts on transformation in the industry for the "Mining Journal Global Leadership Report: Preparing for transformation" report being released later this month.In the wide-ranging interview, Dowling used the example of driverless trucks and autonomous vehicles as one area of development."My personal view of this is that we can't imagine what's coming at us," he said."I think t...Read More
The gold major released its 16th annual sustainability report this week assessing the company's environmental and social performance for 2017.It did not meet its 2017 total reportable injury frequency rate (TRIFR) aim of 0.32 but said its result of 0.35 was a 12.5% reduction from 2016 and Barrick's safest year on record.However Dushnisky said this result was marred by the tragic deaths of Eulogio...Read More
Production at Escondida began in 1990 and peaked in 2007 at more than 1.4 million tonnes of copper. Image: BHPCopper jumped 3.7% in New York on Tuesday to trade at $3.25 a pound ($7,165 a tonne), the highest since end-February, as worries about supply disruptions in key producing region resurface.Workers at the Escondida copper mine in Chile put down quite a marker in the third round of contract n...Read More
Every year, Freeport-McMoRan Inc. dumps tens of millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come.The discharge of what are called tailings, the leftovers of mineral extraction, is perfectly legal under Freeport's current contract with the government. But recently, after...Read More
The growing adoption of electric vehicles (EVs) is expected to cost Germany's key auto industry about 75,000 jobs by 2030, a study released Tuesday shows, with parts suppliers set to suffer the most.The adoption of EVs will lessen the importance of petrol- and diesel-fuelled cars, an industry where German carmakers have built a reputation for decades and which currently employs about 840,000 peop...Read More
It said the drilling had identified copper sulphide-rich mineral deposits, and the new hydrothermal breccias which contained high-grade zinc and remained open at depth.Among the highlights, Sierra intercepted 57m at 1.86g/t silver, 0.54% lead, 0.28% copper and 9.53% zinc, from 92.2m, outside the Yauricocha Fault contact zone.The company has drilled four holes to date from the 1070 level in the Con...Read More
SHANGHAI, Jun 5 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index weakened overnight but rebounded above 94 after the US-North Korea summit was finalised.Both LME and SHFE metals rose across the board overnight except for tin. SHFE tin dropped close to 1% and LME tin dipped. LME lead rose over 1%, and SHFE lead gained o...Read More
(Adds company news and futures)June 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 22 points higher at 7,723 on Monday, according to financial bookmakers, with futures FFIc1 up 0.35 percent ahead of the cash market open.* Virgin Money/CYBG: The acquisition of British bank Virgin Money VM.L by lender CYBG Woodward Inc WWD.O with net proceeds totalling 673 million euros. EMMERSON: Em...Read More
June 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 22 points higher at 7,723 on Monday, according to financial bookmakers.* ASTRAZENECA: AstraZeneca Plc AZN.L plans to disclose payments to doctors in all countries in which it operates in a move that will pile pressure on its rivals to follow suit, The Times reported. POUNDWORLD: British discount retailer Poundworld is close to a res...Read More
SHANGHAI, Jun 5 (SMM) – Nonferrous metals saw mixed trading on Tuesday June 5. SHFE lead led the gains and closed nearly 3.6% higher, copper rose nearly 1%, and zinc inched up. Tin fell over 1%, nickel dipped, while aluminium went flat. In the ferrous market, iron ore jumped over 1.7%, rebar and hot-rolled coil went up slightly, while coke fell over 1% and coking coal dipped 0.76%....Read More
The Perth-based diversified miner overnight signed an agreement with Toronto-listed Silver Bull Resources on the Sierra Mojada zinc-silver project in Mexico.Read More
In March, it said it was raising upwards of A$5 million (US$3.86 million) for exploration in Colombia.The company hopes the diamond drilling programme will confirm and expand the gold mineral system previously drilled by a previous owner, as well as test a previously undrilled geophysical anomaly.Of the three diamond core holes previously drilled, the best hit a 384m intercept grading 1.1g/t gold,...Read More
The company in February applied for 19 contiguous exploration licences over 5,700 square kilometres in western Queensland, and appears to be targeting a potential southern extension of the Mount Isa fault under the Georgina Basin.Read More
The company, formerly known as Ortac Resources, has acquired a further 6% interest from Terra Metals in exchange for 17.5 million new ordinary shares of no par value in Arc Minerals.It became Zamsort's largest shareholder in mid-May when it upped its holding from 14% to 49% by acquiring 35% of Terra's shares in Zamsort for 102.1 million new ordinary shares.Arc also holds a convertible loan note in...Read More
SHANGHAI, Jun 5 (SMM) –Copper: Copper prices rose overnight as the US dollar weakened. Labour negotiations at BHP’s Escondida copper mine in Chile, the world’s largest copper mine, which began last week are also likely to weigh on supply. In light to the shutdown of the second largest copper smelter in India, SMM remains bullish on copper prices in the short term due to the expec...Read More
London-listed Petropavlovsk (POG) is in the midst of a major shareholder battle that could see the whole board booted at the June 29 annual general meeting.Read More
What they fail to foresee is that by providing money at a low cost of capital they oversupply investment capital, facilitating market over-supply.The end result is that despite increased demand, commodity prices lag, leaving investors with sub-optimal returns.Even if investors' expectation for supply deficits turns out to be true, there is no reason why they should build-in higher commodity prices...Read More
DMT is calculating an updated resource estimate for the project, which is expected to be released soon, and which will form the basis of the PEA. The resource update is expected to entail an increase of tonnage based on the exploration work undertaken over the past 18 months, and an upgrade of resource classification, in line with Canada's National Instrument 43-101 guidelines.Read More
See these two Richard Schodde graphs.Ultimately, however, mineral exploration underwent a very significant structural change because of this progressive shallow ore deposit depletion. This structural change was signalled by the fact that, for the first time in modern history, a very strong multi-year increase in mineral exploration expenditure was not answered by a parallel increase in ore deposit...Read More