They will appeal verdict that paved the way for about half a million current and former miners to proceed with a multi-million-dollar suit, which seeks compensation for those who contracted lung diseases.
Anglo American Mining News
Gahcho Kué, a joint venture between De Beers Canada (51%) and Mountain Province Diamonds (49%), is expected to inject $5.2bn into Canada’s economy.
Los Bronces, Anglo American’s flagship operation, is expected to produce between 600,000 and 630,000 tonnes of copper this year.
De Beers, the world's biggest diamond producer, warns that many of the challenges affecting the industry last year are likely to continue over the next decade.
Anglo American Platinum forced to stockpile concentrate and shut down smelter in South Africa responsible for one fifth of its refined platinum output.
Miners at one of Chile's largest copper operations walked off the job on Friday morning after rejecting the majority-owner's final offer in collective wage talks.
Gahcho Kué, co-owned by De Beers Canada and Mountain Province Diamonds, is also expected to provide 1,200 new jobs.
South Africa's Public Investment Corporation (PIC), which owns 14.5% of Anglo, believes the mining giant may not realize the full value of its assets.
The sale is part of Anglo’s plan to exit coal as well as the miner's divestment scheme aimed to raise between $3bn and $4bn by year-end.
The miner continues to look for new assets, including Anglo American’s 40% stake in their manganese joint venture — Samancor.
South Africa's state pension fund is pushing Anglo to spin off all its assets in the country, including the miner's coveted platinum mines.
Study shows the most efficient mines in top producer Chile now produce copper for less than $1 a pound after finding an additional 13% in savings this year.
The company however is still debating whether to sell or spin off its majority stake in Kumba Iron Ore Ltd, Africa's top producer of the commodity.
Most of them have been after existing operations and companies, rather than trying to build mines from scratch.
Shares plunged after miner revealed that output fell almost across the board in the April – June period.
The class action the firms want to appeal paves the way for thousands of current and former miners suffering from silicosis and tuberculosis to seek damage compensation from the companies.
The move comes as the company readies to open what it calls the world’s biggest diamond mine currently under construction.
The Blair Athol mine, closed in 2012, would be the second Australian coal asset in a year to be sold for just A$1.
If the class action goes ahead, it will affect almost every gold mine in South Africa, including their parent companies, covering their conduct over the last 50 years.
While Dominion Diamond has pushed construction of Ekati’s new Jay pipe to 2018, Rio has said that a denial of a request to change its water licence could have an adverse impact on Diavik.
They will dispute the country's High Court decision last month to allow a class action suit seeking damages for up to half a million miners who contracted silicosis and tuberculosis.
Higher gold prices will push miners to restart or speed up development of projects, leading a fresh wave of mergers and acquisitions in the country, according to BMI Research.
Other firms interested in the mines include BHP Billion, South32 and X2, with varying reports as to which remain in contention.
Current strategy director Bruce Cleaver will replace Philippe Mellier, who held the position for five years.
Gahcho Kué, the world's largest new diamond mine under development, is now 94% complete with first production planned for the second half of this year.