Shares plunged after miner revealed that output fell almost across the board in the April – June period.
Chile Mining News
According to a UN report, since 2000 two-thirds of South Africa's gold exports – mostly to India – did not appear on its trade partners' books.
Choppy seas off the coast of Chile caused widespread delays to copper shipments from the world's top producer in the second half of June, potentially supporting prices in a market grappling with oversupply
Lithium prices have soared in the past year, and demand is set to outstrip supply by 2023.
New data shows the first six months of 2016 were tough for Chilean copper producers.
With the expansion, Escondida is targeting an average output of 1.2 million tonnes a year over the next decade, up from about 940,000 tonnes it produced last year.
Chile’s Escondida produced 265,597 tonnes in the period, or 23% less than the 347.125 tonnes it generated in Q1 2015.
Kinross, which operates two mines in Russia and also owns the problem-plagued Tasiast operation in Mauritania, seeks to strengthen its portfolio in North America.
Thanks in part to a weak US dollar and the chance of monetary policy easing in China, responsible for nearly half of global metals demand.
It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.
Early signs of activity include Kinross Gold's March decision to expand its Mauritanian gold mine and Goldcorp acquisition of junior Kaminak for $520 million in May.
The project, renamed NuevaUnion, would be one of the largest copper-gold-molybdenum mines ever-developed in Latin America.
To address issues created by a fast refueling system, Los Pelambres mine in Chile invited several companies to submit proposals to solve multiple issues.
IntelliSense.io to deliver efficiencies for AngloAmerican through water & energy optimisation as part of the Newton-Picarte Resource Efficiency for Sustainable Extraction of Raw Materials Program
Cambridge, UK-based IntelliSense.io and AngloAmerican announce that they have initiated a joint project for IntelliSense.io to optimise the energy and water utilisation of the pipeline, which supplies recovered tailings water to the Confluencia Plant at its Los Bronces copper operation in Santiago, Chile.
The labour action follows two other one-day protests at the mine and comes as BHP mulls a $2.2 billion investment to expand the operation.
CEO of Chilean copper giant sees 300,000 tonnes surplus this year and next.
Chile says the country has now adopted a proactive stance to reduce foreign investment barriers in its mining sector as it joins a plethora of mining jurisdictions worldwide battling to mitigate the resources downturn.
Shares in Europe's second-largest copper producer jumped as much as 4.7% on Monday after posting earnings at overseas units that helped the Polish miner beat analysts estimates for the first-quarter profit.
Top global producer sees surplus this year and next as mines pump out more metal and predicts decline in copper price from today's levels through 2017.
Barrick Gold has reduced its debt load, reshuffle management and sold several assets.
The world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales impacted production and realized gold prices fell.
Most shareholders hope that Catherine Raw persuades management to stop prizing output over profitability and, instead, place more emphasis on investors’ returns.
Confidence returns to mining sector as announced capital outlays surge to $108 billion – greenfield project spending up three-fold in first quarter.
Full voting results will be released on Friday.
Chile's Codelco said that it loses about 1,500 tonnes of copper output for each day El Teniente mine remains inactive.