The Vancouver-based miner aims to produce 280,000 to 300,000 tonnes of the red metal a year, but commercial levels won't be reached until state power utility Zesco finish connecting the mine to the power grid.
With the only exception of gold, production numbers for most other commodities mined in the Central African nation are also expected to decline this year.
The sale follows last month’s touted deal with Stanmore Coal, which bought Vale's Isaac Plains coal mine for just a dollar.
An arbitration tribunal is set to decide in October whether Acacia Mining has to pay a $115 million compensation claim to a former partner in Tanzania.
The country's mining ministry hopes to clinch a deal with mining companies and trade unions next week aimed at saving jobs.
When companies have thousands or tens of thousands of suppliers how do they stay compliant while maintaining their profit margins? Avoid what happened to Costco in five steps.
Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.
The goal is to develop an image algorithm that can classify material in a gold mine as high, medium or low grade ore, or waste.
The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.
The company said is not keen on Rio Tinto's thermal coal assets, currently up for sale.
Appian Capital founder Michael Scherb: "You're now seeing the same changes in mining that happened in oil and gas which is now heavily supported by PE"
New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.
The world's leading commodity trader stock slumped to a record low Wednesday after it revealed it swung to a steep first-half loss of $676 million.
Since the recovery of the first large diamond from Karowe in 2013, the firm has found 216 gems at the site.
The red metal dropped to $5,012 on trading on the London Metal Exchange, approaching the level of $5,000 it last hit in late 2008.
The company had said in June it lacked the inside edge to make owning the precious metal worthwhile.
Results confirm high grade mineralization zones at the firm's Agbaou gold mine, in Côte d’Ivoire.
Companies turn to shallow, highly mechanized new mines to keep costs low.
The company's action on spending follows sharp falls across commodity prices this year.
Total bullion demand dropped 12% in the second quarter of the year, due in part to directionless prices, the WGC says.
The country had introduced the levy on raw platinum exports in January, aiming to encourage local processing of the metal.
South Africa President Jacob Zuma asked mining and steel companies to limit job cuts as falling commodity prices put profits at risk.
According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.
The innovative new Jaguar XE is the only car in the class to use an aluminium-intensive monocoque, with lightweight aluminium accounting for 75% of the structure.
Talks are set to resume on Wednesday, Aug. 12.
Mining Minister Ngoako Ramatlhodi has decided to conditionally withdrew a licence suspension ordered earlier this week.
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