Miocene is in the Atacama and Antofagasta regions of Chile, where Cornerstone is targeting epithermal gold-silver and porphyry gold-copper deposits.
Chile Mining News
The deal, approved by 91.7 percent of the union, also included 1.1 percent salary increases, Codelco said.
High risk, high reward is the bet being made by global lithium miners in Argentina who are brushing aside a recession, a currency crisis and political uncertainty in their hunger for the mineral that helps power electric cars.
Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.
The 36-month contract was approved by 53% of the union.
OK; half right.
Spot prices would be pushed down despite rapid demand growth from batteries for electric vehicles (EV) makers, the experts say.
Mine output fell 3 percent in the first nine months of the year as ore grades sharply declined, leading to a 12 percent drop in pretax profit.
BHP later confirmed in a statement that it had fired 57 workers, including mine operators, supervisors and maintenance workers, but said the mine was again operating normally.
Move allows major companies to lease to juniors all or part of assets they are not actively developing.
Move followed the dismissal of 49 workers and eight supervisors, union President Ronald Salcedo said.
The revised guidance is part of the company's ongoing progress in a number of low cost copper growth opportunities.
It is already being called by some experts “the thickest high-grade copper intersection seen in years.”
The country's state development agency says Albemarle has failed to provide as much as 25% of its annual production at a discount to companies seeking to produce battery metals within Chile, as stipulated in a contract signed in 2016.
Over its almost 18-year mine life, Santo Domingo is expected to produce an average of 134-million pounds a year of copper, 4.2-million tonnes a year of iron concentrates and 17,000 annual ounces of gold.
SQM said the previously announced delays were partly offset by high prices and 25% growth in demand in 2018 on sales to producers of electric vehicles.
That deal is expected to end years of wrangling over ownership rights to Grasberg, the world's second-biggest copper mine.
It was supposed to be a year of mine disruptions, with the market anticipating that multiple labour contract expiries would result in at least one strike.
Lower-grade shoulders are being left on the walls and only the higher-grade portions are being extracted.
International Battery Metals announces second licensing agreement with Ensorcia Metals Corp. for its lithium extraction technologies in Argentina
Argentina and Chile have some of the world's richest lithium bearing salars and with EAL's and Sorcia's ability to access those resources it's a step closer in achieving our goal as a disruptive technology for Lithium extraction.
Teck, which owns 90% of Quebrada Blanca in northern Chile, is looking to sell a 30 to 40% stake to an outside investor.
Copper output in Chile, the world’s top producer of the metal, is expected to increase 4% in 2019 and continue to grow steadily during 2019 due to stronger performance from major mines, upgrades to existing operations, and lower risk of labour strikes.
Canadian miner Lundin is cutting 106 jobs at its Candelaria copper mine "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike.
Canada’s largest diversified miner is also studying a Phase 3 for Quebrada Blanca, which would double the mine’s capacity to 600,000 tonnes of copper a year from the 300,000 it’s expected to achieve once Phase 2 is completed.
Cochilco lowered its average copper price prediction for this year by $0.03 to $2.97 per pound on Thursday in its second negative projection in six months.