Iron ore advanced to a 5-week high of $53.40 on Tuesday, but analysts see steep decline in the final quarter of 2016.
Latin America Mining News
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.
We are on the precipice of a food fight among 7 billion people, and potash will be right at the center of it.
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.
Beijing's already cut coal miners working hours by 16% and plans to eliminate 500 million tonnes of coal capacity within just 3–5 years.
The silver miner says Ottawa needs to press Mexican authorities to ensure Canadian investors are treated fairly.
The Second Latin American Diamond and Jewelry Week opened yesterday at the World Jewelry Hub in Panama City, in the presence of government and industry leaders, as well as buyers and suppliers of jewelry, diamonds and colored gemstones from more than 20 countries in Latin America and around the world.
Combined these mining and metal giants are worth $700 billion with operations in every corner of the world.
Rumours follow Rio's decision to group its least loved units — coal, uranium salt, borates and its Iron Ore Co. of Canada — under a new umbrella branded as the “energy and minerals” business.
Chief executive Andrew Mackenzie believes the iron ore market will take longer to balance out than other commodities due to an excess of supply coming on stream in the next few years.
Andrew Harding, once tipped as the most likely person to take the company’s reins, is being replaced by Chris Salisbury, currently leading the copper and coal division.
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30 million tonnes per year iron ore mine owned by BHP and Vale idle since November.
A cash-and-stock deal is said to be the favourite option at this point, though the parties are also discussing other alternatives.
With construction expected to start in 2018, the US$669-million Fruta del Norte project could finally begin production before the end of the decade.
Vale-BHP joint venture was shut after deadly dam spill in November – Samarco produced a fifth of global seaborne iron ore pellets supply before the disaster.
Extreme shortages of food and power continue to ravage the country of Venezuela, and ordinary people have been paying the price.
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Companies still face another much bigger civil action over November's deadly tailings dam burst at its Samarco iron ore mine in Brazil.
New Regional Human Development Report recommends social protection, care systems, labour skills and closing historic gender, racial and ethnic gaps not resolved with economic growth alone
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Eight executives will also face charges, although the police did not disclose their names.
Canada slipped in the Fraser Institute’s global ranking, while Chile remains the most attractive jurisdiction in Latin America.
Chinese import volumes jumped 22% in May compared to last year giving support to iron ore price back above $50 a tonne.
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.