Jobs

Freeport-McMoRan cuts spending, production and jobs: shares soar

Cecilia Jamasmie | August 27, 2015
Freeport-McMoRan cuts spending, production and jobs: shares soar

The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.

Molycorp shuts down Mountain Pass rare earth plant

Cecilia Jamasmie | August 26, 2015
Molycorp shuts down Mountain Pass rare earth plant

The former superstar of rare earths mining said it has decided to put the California facility on "care and maintenance" mode by Oct. 20 due to weak prices.

South Africa's mining industry to sign jobs pact – govt

Reuters | August 25, 2015

The country's mining ministry hopes to clinch a deal with mining companies and trade unions next week aimed at saving jobs.

Anglo American ok to extend debated coal mine in Australia

Cecilia Jamasmie | August 25, 2015
Anglo American ok to extend debated coal mine in Australia

New South Wales planning authorities say a scaled-back plan to extend the life of Anglo’s Drayton South open-cut mine in the Hunter Valley can be approved, but with certain conditions.

New study says Energy East Pipeline would hurt whales

Cecilia Jamasmie | August 20, 2015
New study says Energy East Pipeline would hurt whales

Report claims that noise from tanker traffic causes heightened levels of stress for the North Atlantic right whale, hindering the mammal’s ability to communicate.

Glencore stock getting hammered as China slowdown, commodities rout hit profit

Cecilia Jamasmie | August 19, 2015
Glencore stock getting hammered as China slowdown hits profit

The world's leading commodity trader stock slumped to a record low Wednesday after it revealed it swung to a steep first-half loss of $676 million.

Glencore plans to shut Eland platinum mine in South Africa, union says

Cecilia Jamasmie | August 18, 2015
Glencore plans to shut Eland platinum mine in South Africa, union says

The company had said in June it lacked the inside edge to make owning the precious metal worthwhile.

South Africa’s platinum miners start over

Wall Street Journal Online | August 13, 2015

Companies turn to shallow, highly mechanized new mines to keep costs low.

Glencore hit by $790 million writedown, cuts spending

Cecilia Jamasmie | August 13, 2015
Glencore hit by $790 million writedown, cuts spending

The company's action on spending follows sharp falls across commodity prices this year.

Freeport cancels copper exports from Indonesia as permit expires

Cecilia Jamasmie | August 12, 2015
Freeport cancels copper exports from Indonesia as permit expires

The company, which runs the massive Grasberg mine in Papua, has stopped exporting since last month.

Latest positive US jobs report fails to affect flat gold price

Cecilia Jamasmie | August 10, 2015
Latest solid US jobs report fails to affect flat gold price

Prices of the metal have been fallen in the second half of this year as the prospect of a rate rise, the first since 2006, would lift the opportunity cost of holding bullion.

South Africa’s Zuma asks mining companies to limit job cuts

Bloomberg | August 9, 2015

South Africa President Jacob Zuma asked mining and steel companies to limit job cuts as falling commodity prices put profits at risk.

Codelco says over $15 million in damages due to strike at Salvador mine

Cecilia Jamasmie | August 9, 2015
Codelco says over $15 million in damages to its Salvador mine due to strike

Codelco, the world's No.1 copper producer, confirmed it will start legal actions against protesters this week.

South Africa’s main gold union snubs final pay offer

Cecilia Jamasmie | August 7, 2015
South Africa’s main gold union snubs final pay offer

Talks are set to resume on Wednesday, Aug. 12.

South Africa lets Glencore resume operations at Optimum coal mine

Cecilia Jamasmie | August 7, 2015
South Africa lets Glencore resume operations at Optimum coal mine

Mining Minister Ngoako Ramatlhodi has decided to conditionally withdrew a licence suspension ordered earlier this week.

Revocation of Australia’s largest coal mine licence ‘a sabotage’ — Abbot

Cecilia Jamasmie | August 7, 2015
Revocation of Australia’s largest coal mine licence ‘a sabotage’ — Abbot

His comments follow this week's decision by the federal court of Australia to overturn government approval for the construction of one of the biggest coal mines in the world.

Wage negotiations in S. Africa’s gold sector to end next week

Cecilia Jamasmie | July 31, 2015

South Africa’s top gold producers believe it is highly likely that unions agree to take the latest pay offer presented to them, marking the end of almost 5 weeks of negotiations.

Codelco resumes operations at Chuquicamata amid fresh road blockages

Cecilia Jamasmie | July 30, 2015
Codelco resumes operations at Chuquicamata amid fresh road blockages

A group of demonstrators, however, continued to block some access roads on Thursday morning, attempting to seize a bus that was heading to the nearby Gabriela Mistral mine.

Codelco halts world's largest open pit copper mine over strike

Cecilia Jamasmie | July 28, 2015
Codelco halts world's largest open pit copper mine over strike

Things took a turn for the worse Friday, when a worker was shot dead by police near the company's smaller Salvador mine in northern Chile.

China planning to step up controls on coal imports — report

Cecilia Jamasmie | July 28, 2015
China planning to step up controls on coal imports — report

As 85% of Chinese thermal coal producers and 35% of miners focused on the metallurgical kind are now running at a loss.

CHART: Coal lobbying expenses collapse

Cecilia Jamasmie | July 27, 2015
CHART: Coal lobbying expenses collapse

The spending decline comes as U.S. coal miners struggle to clear hurdles on the federal level, including both newly proposed measures and regulations already being implemented.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

Cecilia Jamasmie | July 24, 2015
Anglo American to axe 53,000 jobs, put 15 assets up for sale

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Mining firms should act now to stay ahead of local content rules

Achilles | July 24, 2015
Mining firms should act now to stay ahead of local content rules

Global miners could be at risk of losing valuable exploration and operating licences unless they step up their efforts to award work to suppliers in the locality of contracts.

Glencore to slash 380 coal jobs in South Africa

Cecilia Jamasmie | July 22, 2015
Glencore to slash 380 coal jobs in South Africa

It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.

Cecilia Jamasmie

The US coal industry just had the worst week in years

Cecilia Jamasmie | July 20, 2015
The US coal industry just had the worse week in years

A wave of bankruptcy is sweeping an industry already hit by competition from inexpensive natural gas, tougher environmental rules and a global coal glut that has decimated prices.

Anglo American to write down up to $4bn on weak commodity prices

Cecilia Jamasmie | July 16, 2015
Anglo American to write down up to $4bn on weak commodity prices

This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.

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