Operating profit fell to 2.05 billion Swedish crowns from 2.72 billion a year earlier, beating the 1.99 billion seen by analysts in a Reuters poll.
Copper Mining News
The new mining code that Congo passed last year confirmed that subcontracting in the mining industry will be limited to companies of which the majority of capital is held by Congolese.
London Metal Exchange (LME) copper slumped 3% on Wednesday and has slid further to a three-month low.
Rio has so far drilled 24 holes at the site and will continue extensive drilling in months to come as part of its $250 million exploration program.
The electric vehicles pioneer is worried about the effects of booming demand for EVs will have on the supply of minerals needed to manufacture rechargeable batteries.
Canadian miner will elect 11 nominees of Waterton Global Resource Management, its second largest shareholder, as part of the settlement that ends a long-dragged out battle over control of Hudbay.
RCT has finished a major automation project at Matsa Resources’ Aguas Teñidas and Magdalena mines in the Huelva province of Spain.
Ivanhoe Mines has appointed former Kinross CFO Tony Giardini as its new president.
Lars-Eric Johansson plans to retire at the end of June after 12 years at the helm.
The World Bank is targeting a total investment of $50 million, to be deployed over a 5-year timeframe.
One of the largest gold mining companies in the world has taken a shine to Chakana Copper and its Soledad project in Peru.
Global demand for strategic minerals like lithium, graphite and nickel will skyrocket by 965%, 383% and 108% respectively by 2050, according to the World Bank’s updated 2018 projections.
GFG is building up a South Australian franchise to its global steel and energy business.
Rebeico sits on Mexico’s famed Sierra Madre Gold belt, credited with production of over 80 million ounces of gold and over 4.5 billion ounces of silver.
More than 8,000 tonnes of ore have already been extracted since early April.
The Knife Lake property was extensively explored from the late 1960s to the 1990s, with the last documented work program completed in 2001.
The project is on track to deliver between 140,000 and 175,000 tonnes in 2019.
Industrial metal markets are taking a breather as they await tangible evidence that China's latest stimulus package is feeding through to a flagging manufacturing sector.
A flood of stock promotion newsletters began recommending Northern Dynasty, one describing it as "Trump’s Gold."
The slight increase in manufacturing production was driven primarily by a year-on-year increase in the production of machinery and equipment.
Glencore cut its full-year copper-output goal by about 3% and lowered production targets for other commodities from nickel to oil.
While the adjusted per-share earnings beat the average analyst estimate, revenue came in lower than expected and copper production fell 5.8% from a year earlier.
Recent drill results include 3.22 g/t platinum, 2.08 g/t palladium, 0.23 g/t gold, 0.57% copper and 0.19% nickel over 41.2 m.
Five firms, including BHP, were removed from the Prompt Payment Code, an initiative to speed up settlement of invoices owed to suppliers.
The company plans to raise production of copper cathodes by 1.4% this year to 1.44 million tonnes.