Chile's state-owned giant slashes costs 11% and boosts production as it takes the fight to the competition amid slumping copper price.
The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.
The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.
Authorities say the $2.5 billion illicit mining industry is creating a parallel economy that is deemed to damage the business of those who operate legally.
No commodity is more exposed to China and the iron ore price is up 20% from its 2015 low. Has the steelmaking raw material become a leading indicator?
Commodity investing legend says the Chinese market is on its way to "finding a good bottom."
The sale follows last month’s touted deal with Stanmore Coal, which bought Vale's Isaac Plains coal mine for just a dollar.
Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.
The goal is to develop an image algorithm that can classify material in a gold mine as high, medium or low grade ore, or waste.
As prices for the company's four key "pillar" commodities —iron ore, metallurgical coal, copper and oil and gas — have all dropped to multi-year lows in the past 12 months.
The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.
Appian Capital founder Michael Scherb: "You're now seeing the same changes in mining that happened in oil and gas which is now heavily supported by PE"
New study shows mines throughout Latin America are dissatisfied with their Original Equipment Manufacturers (OEMs) over cost-related factors, in particular maintenance and servicing costs.
New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.
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.
Cerro Grande said the events had adversely impacted operations at its Pimenton mine in Chile, and will have a negative impact on its fourth fiscal quarter, ending Sept. 30, 2015.
The red metal dropped to $5,012 on trading on the London Metal Exchange, approaching the level of $5,000 it last hit in late 2008.
The firm began disposing mining assets last year, as prices for most commodities began a downward trend and U.S. regulators increased pressure on banks to get out of risky businesses.
Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.
Red Eagle Mining (TSXV:RD) is spending $120 million to open Colombia's first gold mine in two decades.
Judge also orders compensation for indigenous people in the region following protests at mine responsible for 9% of Brazilian giant's nickel output.
Investors weren't happy with the news. The stock dropped to record lows Friday, becoming the top loser on FTSE 350 mining index.
The company's action on spending follows sharp falls across commodity prices this year.
Total bullion demand dropped 12% in the second quarter of the year, due in part to directionless prices, the WGC says.
High cost domestic Chinese iron ore mines will stay shut, boosting already surging imports.
Bellwether copper price falls to fresh six-year low after China devalues currency, but new report says market reaction is a knee-jerk one.
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