The Israeli billionaire, under house arrest since Dec. 19, has been at the centre of an international investigation into alleged bribery to win mining rights in Guinea.
Brazil Mining News
The company plans to invest a $308 million (R$1 billion) this year to allow the iron ore mine reach a 26.5 million tonnes a year capacity.
Instead, the company is moving forward with a new prefeasibility study for the Argentina-based asset.
Vale agrees to pit use for tailings.
Mosaic has agreed to acquire most of Vale's phosphate assets in Brazil, its stake in Peru's Bayovar mine and the firm’s Kronau potash project, in Canada.
The billionaire and other Israeli businessmen are suspected of paying tens of millions of dollars to senior state officials to secure a licence for Simandou, local police said.
Commercial production starts in January, with a ramp-up to 90 million tonnes per annum by 2020
Prominent local evangelical pastor among the latest public figures being interrogated.
BSGR will sue Rio Tinto in the English High Court to recover losses allegedly caused by Rio's actions, which run to several billions of dollars.
Mine is set to start operations by the end of the year, with first shipment set for January 2017.
Russian-Canadian Vera Kirikova will become human resources group executive while Simone Niven will assume the corporate relations group executive post.
While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.
Board of directors has approved the change effective December 6, 2016, in order to better reflect the company's existing business.
The auction of emeralds from the miner's Kagem operation in Zambia will now be in February.
Araguaia, which hosts a proven and probable mineral reserve of almost 25 million tonnes grading 1.77% nickel, is expected to begin production by 2019.
Hefty new loans come as the Brazilian joint venture assesses whether it can reopen the iron ore mine where a dam disaster killed 19 people last year.
The government has also said it supports introducing a new mining code, but previous attempts to introduce new legislation have been stalled for several years due to political and industry resistance.
Energy and Minerals chief executive Alan Davies said he would take the mining giant to court over his dismissal, adding there were “no grounds” for his termination.
Company is said to have found out about the emails referring to a questionable $10.5m payment to a consultant over the Guinea project more than a year ago, not 'just' in August, as it claimed.
Speculation is running and some of what is being said strikes at the heart of the culture and values of the company, chief executive officer Jean-Sébastien Jacques said in an internal memo.
Alan Davies suspended after miner found payments made to consultant in 2011, when he was in charge of the iron ore project.
2,000 ounces of gold were stolen from the Jacobina mine in Brazil.
If prices for the commodities it mines continue to pick up, the firm must cancel plans to sell some of its best assets.
Most of the division’s assets will be acquired by Mosaic, the world’s largest producer of phosphate fertilizer.
Launched three years ago with a $5.6bn war chest, the fund once hailed as leader of a new wave of mining investment changes course.