Sam Walsh's bonuses, potentially worth millions, had been delayed for at least two years as investigations continue into dubious payments related to Simandou iron ore project in Africa.
Brazil Mining News
The world's No.1 iron-ore producer recorded a net profit of $3.98 billion in 2016, a significant recovery from a loss of $12.13 billion it reported a year earlier.
The world's number five diversified miner posted its first annual net profit in five years.
Belo Sun Mining Corp. has awarded FLSmidth the first phase of an EPC contract for the Volta Grande gold mine processing plant in Brazil’s Amazon region.
The world’s No.1 iron ore miner produced 349 million tonnes of the steelmaking ingredient in 2016, helped partly by the opening of its massive S11D mine.
A reworked sale process for plants located in the southeastern city of Cubatão was reportedly launched in recent days.
Prices for the steelmaking commodity have more than doubled in value over the past year following near-decade lows of $38 a tonne in December 2015.
Opponents claim the miner intends to use cyanide, depositing toxic waste in a dam located just 1.5 km from the Xingu River, a tributary of the Amazon.
The miner reported broadly higher output in the fourth quarter across all divisions, except for copper, which suffered from lower grades and strikes.
INTERACTIVE MAP: Together reserves at the global top 10 copper mining projects are worth more than $360 billion.
The strike has not had a significant impact on mine and consolidated production, the company said.
The company has loaded 26,500 tonnes of iron ore onto three ships at the company's port of Ponta de Madeira.
Operations have been halted since Friday, when one of the two unions blocked all access to El Peñón as a way to press management.
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.
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.