Winners were few and far between Friday, but punters couldn't resist Nevsun Resources stock after low-cost high-grade Eritrea mine delivered on all counts.
According to The Times, Rio flagged the possibility of a writedown in August.
The miner blamed low metals prices and productivity inefficiencies for the decision.
Data published by the National Statistics Institute of Chile (INE), shows the country’s copper output has dropped by 5% during the month of September this year.
Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.
Woo served as a U.S. State Department representative in Asia for about 15 years with postings in countries including China, Japan and Australia.
Asset bubbles go as far back as finance and speculation themselves. In the past, there have been bubbles in everything from tulips to railroads that have made or broke fortunes.
After a brutal two-month sell-off, the nickel price is recovering as Chinese port stocks are depleted and global stainless steel output picks up.
It grants the world's No.1 copper miner an injection of US$4 billion for the next four years.
The U.S. largest miner by market value and revenue is also dealing with a strike threat at its Indonesia's Grasberg copper and gold mine, which recently resumed operations.
With a well-rounded portfolio, it makes it easier to sail through turbulence in the market and come out on top.
The world’s biggest miner unveiled details about how it expects to meet cost-reduction and productivity improvement targets.
That is worth around $534-$854 million, based on prices of $6,675 per tonne.
The increased mining tax framework included in Zambia's 2015 Budget earlier this month has been subject to criticism as, according to the Chamber of Mines of Zambia (CMZ), it will reduce the country's attraction for mining investment and reduce employment.
The move is seen by analysts as an attempt to strengthen the firm’s image.
Total worldwide budget for nonferrous metals exploration dropped to US$11.36 billion in 2014 from US$15.19 billion in 2013 — a 25% decrease.
Petroleum, met coal, iron ore production set new quarterly records. Fall in copper volumes not enough to dent 9% overall output growth.
The all-powerful U.S. dollar is currently hammering base metals and base metal equities. Haywood Securities Mining Analyst Stefan Ioannou says that increasing demand and near-term supply shortages make base metals a bargain that won't last.
Euromax Resources has entered into a $175 million deal ith RGLD Gold, to finance the next stages of development and construction of the company's Ilovitza copper-gold project in the Macedonia.
Vancouver-based junior jumps 7% after assays from prospect on 3,600km2 coastal property returns strong copper-nickel-cobalt and platinum group results.
Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.
The giant copper miner is also planning to sell about $8 billion of bonds over the next five years to help finance a nearly $30bn investment program aimed to revamp its aging mines.
The firm is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces of gold resources (only two of the deposits have resource estimates on them).
Chinese economy expected to grow at slowest pace since 2009 just as flood of new supply enters the market.
Leaders of IndustriALL Global Union’s Rio Tinto Network will gather in Mongolia on 22 October to plan the next moves in the worldwide campaign to improve worker rights at the mining giant.
Get Mining News and Alerts
sent to your inbox daily