Recent Articles

About 30,000 fresh job cuts, more mine closures expected in Australia

Posted on July 29, 2015

A fresh survey of mining industry leaders is predicting more mine closures and job cuts as the prices of commodities like iron ore and coal decline.

Gold to dip below $1,000 by end of the year – report

Posted on July 29, 2015

Gold is doomed. That seems to be the message being deliverd by several analysts who predict prices for the metal will hit fresh historic lows by the end of 2015.

Antofagasta cuts copper output forecast for the year

Posted on July 29, 2015

This is the second time this year that the London-listed miner slashes its annual copper production guidance.

Diver finds $1 million in 300-year-old gold coins off Florida coast

Posted on July 29, 2015

A member of a Florida family hit the jackpot when he found $1 million-worth of gold artifacts, including a royal coin from the Spanish king, recovered from a ship that sank off the Florida coast 300 years ago.

Codelco halts world's largest open pit copper mine over strike

Posted on July 28, 2015

Things took a turn for the worse Friday, when a worker was shot dead by police near the company's smaller Salvador mine in northern Chile.

Zambia power cuts feed copper supply worries, lift prices

Posted on July 28, 2015

Power restrictions could hit output of most copper mines operating in the country.

Papua New Guinea’s Ok Tedi copper, gold mine halts production

Posted on July 28, 2015

The company is also slashing 30% of its foreign employees and 15% of the local workforce.

China planning to step up controls on coal imports — report

Posted on July 28, 2015

As 85% of Chinese thermal coal producers and 35% of miners focused on the metallurgical kind are now running at a loss.

CHART: Coal lobbying expenses collapse

Posted on July 27, 2015

The spending decline comes as U.S. coal miners struggle to clear hurdles on the federal level, including both newly proposed measures and regulations already being implemented.

$60 billion in oil sands projects frozen due to crude prices collapse — report

Posted on July 27, 2015

And oil prices keep falling — they have kicked off the week in the red, with U.S. prices trading below $48 a barrel.

Indian miner to expand operations at Rio's former Mozambique coal assets

Posted on July 27, 2015

ICVL wants boost annual production at its Benga mine from 5.3 million tonnes to 13 million tonnes in the next five years.

Alrosa’s biggest diamond mine goes underground

Posted on July 27, 2015

The company has officially shifted operations at its flagship Udachnaya mine from open-pit to underground mining.

China’s biggest one-day stocks drop in eight years lifts gold prices

Posted on July 27, 2015

Monday’s was the biggest one-day decline in Chinese stocks since an 8.8% drop on Feb. 27, 2007.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

Posted on July 24, 2015

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Canadian court to hear Stans Energy appeal over Kyrgyz Republic’s unpaid $118M

Posted on July 24, 2015

The frozen payment corresponds to what the Kyrgyz Republic was told by an international arbitration court to give Stans for revoking its rare earth mining licenses in the country.

Canada-owned oil sands mine in Utah to begin producing in fall

Posted on July 24, 2015

Calgary-based U.S. Oil Sands is working through the summer to complete a 2,000-barrel-per-day oil sands mine in eastern Utah, one of the country's first commercial operation of this kind.

Vale adds to iron ore supply glut — second highest ever quarterly output

Posted on July 23, 2015

The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.

Coal slump hits Teck’s profit, output forecast

Posted on July 23, 2015

The Vancouver-based miner profit fell 21% in the quarter, making it adjust its 2015 coal production forecast to 25-26 million tonnes from 26.5-27.5 million tonnes.

Ned Goodman resigns from Barrick Gold board

Posted on July 23, 2015

He will focus on a new business venture in resources and other hard assets, said Barrick.

About 10% of global gold output being produced at a loss

Posted on July 23, 2015

While gold was moderately higher in early U.S. trading Thursday analysts agree the whole industry is on a bit of “a knife-edge.”

Iron ore prices hit by fresh evidence of looming surplus

Posted on July 22, 2015

Seaborne with 62% content delivered to Qingdao dropped 0.7% to $51.76 a ton, its sharpest drop in two weeks.

Glencore to slash 380 coal jobs in South Africa

Posted on July 22, 2015

It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.

Economic slump, not drop in coal use, responsible for U.S. carbon emissions fall

Posted on July 22, 2015

Findings of a new research show the 11% fall in carbon emissions between 2007 and 2013 was caused mainly by depressed market conditions.

Gemfields Mozambique mine to yield rubies for over 20 years

Posted on July 22, 2015

An independent report has confirmed the Montepuez mine holds the largest deposit of rubies in the world, with projected output of 432 million carats over 21 years.

BHP Billiton beats iron ore guidance, takes copper write-downs

Posted on July 22, 2015

The world's No.1 miner will continue boosting its iron ore output, adding to a global glut and keeping pressure on prices.

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