But unionized workers insist on claiming that Antamina's output would likely drop by at least 90%.
The mine and rail project in Queensland's Galilee Basin is expected produce 60 million tonnes of thermal coal a year.
The move will cut the miner's output by 5 million tonnes — 2.5% of Australia's forecast 2014 thermal coal exports — and force about 8,000 workers to take a leave.
The company is defying coal price slump with increased production driven by expansions at its Australian mines.
The move is seen by analysts as an attempt to strengthen the firm’s image.
Workers downed tools Friday after talks over the structuring of packages for employees who face lay offs hit a roadblock.
The drop was mainly due to reduced shipments from Codelco and Collahuasi, official figures show.
And the rapid fall in the iron ore price, the Sierra Leone miner's dispute with Glencore and the slow rampup. But especially Ebola.
Despite iron ore prices touching rock bottom, the top three producers have no plans to slowdown production. Quite the contrary.
The miner, Zambia's largest foreign investor, operates Kansanshi mine, the eighth largest copper mine in the world, as well as the country's biggest.
Underground mining royalties will go up from 6% to 8%; underground taxes now 20%.
The commodities trader and miner explored a stock-exchange listing Down Under.
The head of the iron ore division, Andrew Harding, defens Rio's own plans to ramp up ore production.
Transaction marks the end of a dreadful venture for the mining giant.
It’s good to be Ivan Glasenberg’s neighbour.
Preferring to "successfully execute" alone.
While BHP gets ready to further expand iron ore output, Glencore's Glasenberg warns the move will make investing in African iron ore a less appealing prospect.
Zambia’s mines minister says the company has not officially communicated the government its intentions as required under the country's law.
This is the first asset Aaron Regent's private equity firm acquires, after failing to buy Glencore’s Las Bambas copper project in Peru.
The company is cutting 169 jobs at the mine.
The standoff marks a major setback for the miner, which is in the process of upgrading its copper assets in Zambia hoping to increase output by at least 50% by 2017.
It would also create a a 15-kilometre long ‘‘super pit’’ from the union of Rio’s Mount Thorley Warkworth and Glencore’s Bulga open-pit mines.
The business group argues the sector must be nurtured to generate the revenues needed for the country’s economic diversification.
"All that's required is to hand the world’s best mining assets to the world’s best management."
A group of 11 chief executives of firms operating in West Africa have called for more international support to combat the deadly virus.
President Danilo Medina vetoed bill creating a National Park, which would have blocked the expansion of Glencore's Falcondo mine.
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