News
-
Peru minister says $1.4bn Tia Maria mine a “no go”
Tía María copper project in Peru’s Arequipa region. (Image courtesy of Southern Copper.) Peru’s economy and finance minister has cast further doubts about Southern Copper’s (NYSE: SCCO) long-delayed $1.4 billion Tia Maria project, in the southern Islay province of the Arequipa region, by say...Read more -
Europe’s energy crisis to hit miners’ long-term power deals, Boliden says
Boliden’s Kristineberg mine in Sweden. (Credit: Boliden) Europe’s energy crunch will prove more than just a short-term headache for mining companies because price spikes will be accounted for in long-term power contracts, Sweden’s Boliden AB said. The mining sector is the latest to warn tha...Read more -
South Africa studying court judgment that parts of mining charter unconstitutional
Ground handling worker performing a routine inspection at Finsch, South Africa’s second largest diamond operation by production. (Image courtesy of Petra Diamonds.) South Africa’s mining ministry said it was studying a judgment by the High Court that some clauses in the country’s mining char...Read more -
Hudbay drills seventh zone at Copper World, near Rosemont in Arizona
Looking over Hudbay’s Copper World land package. Credit: Hudbay Minerals Hudbay Minerals (TSX: HBM; NYSE: HBM) has drilled more high-grade copper sulphide and oxide mineralization at its near-surface Copper World project, 7 km from the Rosemont project in Arizona. Drilling this year identifi...Read more -
South Africa studying court judgment that parts of mining charter unconstitutional
Ground handling worker performing a routine inspection at Finsch, South Africa’s second largest diamond operation by production. (Image courtesy of Petra Diamonds.) South Africa’s mining ministry said it was studying a judgment by the High Court that some clauses in the country’s mining char...Read more -
Poland faces 500,000 euro daily fine for ignoring coal mine ban
About 7% of the electricity Poland consumes comes from a single coal mine, Turów. (Image courtesy of Anna Uciechowska | Wikimedia Commons) Poland insisted it won’t stop extracting coal at the Turow lignite mine near the Czech border even after hearing it faces a daily 500,000 euro ($586,000)...Read more -
Mining firms in Mexico must face ‘strict’ scrutiny, says senior official
First Majestic’s La Encantada silver mine in Mexico. (Image: First Majestic Silver Corp.) Mining companies in Mexico should expect tough environmental reviews given their projects’ major impacts, a senior official told Reuters, insisting that a backlog of evaluations is easing despite indust...Read more -
Russia mulls new extraction tax and higher profit tax for metals firms
Image courtesy of Norilsk Nickel Russia’s finance ministry proposed setting a mineral extraction tax (MET) linked to global prices for producers of iron ore, coking coal and fertilizers, as well as ore mined by Nornickel, four sources at companies familiar with talks told Reuters. The mini...Read more -
Commodity price surge spurs Australian explorers to get digging
Australia’s prolific Pilbara iron ore mining region. (File image) Australian companies’ spending on resources exploration at home and abroad hit the highest in seven years in the June quarter, spurred by strong price gains across a range of commodities as the global economy recovers from the...Read more -
Aya raises $55 million for Zgounder silver expansion in Morocco
Zgounder silver mine in Morocco. Credit: Aya Gold & Silver Aya Gold and Silver (TSX: AYA) has closed a bought deal financing of C$70 million ($55.3m), selling a total of 6.8 million shares at a price of C$10.25 each. The funds will go primarily toward a feasibility study for an expansion o...Read more -
Teck Resources weighs sale, spinoff of $8 billion coal unit
Teck’s Greenhills steelmaking coal operation in Elk Valley, British Columbia. (Image courtesy of Teck Resources.) Teck Resources Ltd. is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion, people with knowledg...Read more -
Chile indigenous group asks regulators to suspend SQM’s permits
(Image courtesy of SQM.) Indigenous communities living around Chile’s Atacama salt flat have asked authorities to suspend lithium miner SQM’s operating permits or sharply reduce its operations until it submits an environmental compliance plan acceptable to regulators, according to a filing v...Read more