The company said it failed to reach an agreement with a client in a dispute over a mining project in Latin America, prompting it to slash its profit forecast by more than 40% for the year.
State-development bank BNDES intends to sell shares in the miner, but has yet to find a good moment to do so.
The statement doesn’t offer a reason for her departure.
While China’s holdings are the sixth largest by country, they account for only 2.4 percent of reserves, compared with more than 70 percent in Germany and the US.
Iron ore’s dramatic rally will raise costs for steelmakers, potentially crimping their profit margins, unless they are able to pass on the additional burden to customers.
Vale has flagged production cuts of as much as 70 million tons in the wake of the deadly dam breach, spurring worries about a substantial loss of seaborne supply.
The Panguna mine has an estimated 5.3 million metric tons of copper and 19.3 million ounces of gold, according to BCL, worth about $58 billion.
“Again, all we’ve heard are allegations in a newspaper. The prime minister has said that these allegations are false.”
Nicolas Maduro is under pressure at home and abroad, and being encouraged by the U.S. to go to “a nice beach somewhere far from Venezuela.” The question is where would -- or could -- he go?
To boost coal use in the US: Find a spot near a mine with no access to oil or natural gas pipelines, where it’s not particularly windy and it’s dark much of the year.
The gold ownership bill presented by euroskeptic lawmaker Claudio Borghi of the League adds to an already tense relationship between the Bank of Italy and the coalition government.
SNC didn’t identify the project but analysts are pointing the finger at a copper mine run by Codelco, Chile’s state-owned producer.
GraniteShares Gold Trust founder, Will Rhind, is in the midst of a fee war with his former employer and other ETFs that’s helped boost his fund’s value to $458 million, from less than $12 million a year earlier.
In the near term, the significant disruption to Brazilian supply will likely keep iron ore prices elevated and volatile.
The layoffs come as Glencore considers a plan to stop mining oxide ores at Mutanda.
This week’s drama has played out as the most important iron ore user has been offline, with Chinese markets closed for Lunar New Year.
The government sold a total of 73 tonnes of gold to two firms in the United Arab Emirates and another in Turkey.
Creditors rejected Samarco’s offer to treat the injections as senior or pari-passu debt.
“There is no renegotiation taking place because a law has been passed in parliament to change the tax regime."
“You don’t create value for your shareholders when it’s a fashion or a feeding frenzy" - Neal Froneman
Executives, investors and government officials meet in Cape Town this week at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.
Vale SA said it’s temporarily halting some operations at its Brucutu mine, potentially causing a production loss of about 30 million metric tons of iron ore a year
Record palladium prices and a weaker rand are lifting the gloom enveloping South Africa’s platinum industry.
If you are searching for clues on how the rand will move next, watch the iron-ore price.
After years on the sidelines, gold producers are suddenly the mining world’s hottest topic as the industry gathers in Cape Town this week.