The failed plan was to find an operator with a lower cost structure or a different mining approach that would be able to take over and extend Voorspoed’s life.
Anglo American Mining News
Billionaire Anil Agarwal in July said he planned to offer around $1 billion to take London-listed Vedanta Resources Plc private, a move that has rekindled speculation his ultimate aim is a deal with miner Anglo-American.
30-year reserve life.
Anglo American unit De Beers expects its purchase of Canada's Peregrine Diamonds, its first upstream diamond acquisition since 2000, to be completed in a month to six weeks' time.
The president of Peru’s National Society of Mining, Petroleum, and Energy said the project will create 9,000 jobs during its construction phase and additional 2,500 once it goes into production.
The iron-ore mining company is introducing a targeted dividend ratio policy of 50 to 75% of headline earnings.
Nobody who owns a copper mine wants to give it up. Even when Glencore and Anglo American Plc were crippled by debt during the 2015 commodity slump, neither was willing to entertain an offer from Rio for their holdings in the giant Collahuasi deposit in Chile.
Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Copper, iron ore prices drop, mining majors punished as US threatens more tariffs on "predatory" Chinese imports and Beijing calls it "blackmail".
A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.
Anglo will sell a 21.9% stake in its Peruvian copper project to Mitsubishi, increasing the Japanese firm’s stake in the venture to 40%.
The two separate decrees aim at making the local industry more competitive and sustainable, while while implementing rules on the collection of higher mining royalties.
Michel Temer is expected to issue a decree next week introducing key changes to mining rules that date back to the 1960s.
Global miners face a new reality in Brazil as local, judges included, react quicker and more ferociously to legal infractions.
Anglo American Plc is set to boost metallurgical coal capacity at a mine complex in Australia by 25 percent.
The white octahedron of "top clarity" is the largest gem quality diamond and fourth largest stone ever recovered at the company's Gahcho Kué mine, located in Canada’s Northwest Territories.
Codelco just achieved a new, less enviable mantle -- the only major mining company with an all-male board and senior management team.
Quellaveco is one of the world’s largest untapped copper orebodies and Anglo’s board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.
The World Platinum Investment Council sees oversupply in the platinum market of 180,000 ounces in 2018.
Stuart Brown has over 25 years of experience in the diamond industry and is the outgoing Firestone Diamonds chief executive officer.
Russia's Kristall cuts around 300,000 carats annually and generates revenue of around $200 million.
The parties said they believed an out-of-court settlement was far preferable for all concerned than an inevitably lengthy and expensive litigation process .
Anglo American Plc, Glencore Plc and BHP Billiton Ltd. are generating the highest profits in years from their coal mines.
Most claimants are black miners from South Africa and neighbouring countries such as Lesotho, whom critics say were not provided with adequate protection during and even after the Apartheid ended in 1994.
Kumba Iron Ore reported a 4 per cent increase in overall production in the first quarter that ended March 31, 2018.