Experts believe the value of the nation's dawning industry is set to jump from $1.1bn this year to $7.9bn in 2021 on a combination of revised regulatory framework and significant gold and copper reserves.
Lundin Mining Mining News
The country expects mining investments to increase 360% in the next four years compared to the 2013-2016 period as it has already granted 160 of the 420 explorations licences it put out to tender in July.
The project, discovered in 2006, is one of the world’s biggest recent gold findings, with reserves estimated at about 4.8 million ounces of gold and 6.3 million ounces of silver.
Following $1.1 billion Congo mine sale Toronto-based copper-zinc miner announces inaugural dividend and strong operational forecast.
Gecamines claims it has pre-emptive rights to buy the stake as owner of the country’s mining titles.
Canada’s Lundin, which owns 24% of Tenke, has finally agreed to sell its stake to a private equity firm from Asia’s richest nation.
Ecuador began last month granting licences for new exploration areas, with over 300 of them to be awarded by the year-end.
DRC prime minister throws weight behind Chinese buyers of Freeport's controlling stake in Tenke Fungurume.
The Congo mine, which cost $3 billion to build, holds one of the world’s largest known copper resources.
Toronto miner has first dibs on controlling share of Tenke Fungurume which if contemplated expansion goes ahead would catapult mine into global top 5.
The company now has until Sept. 29 to bid on Freeport-McMoRan Inc's stake in the Tenke Fungurume copper and cobalt mine.
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.
The company recently offered as much as $262.5 million to buy a stake in Freeport-McMoRan Inc.’s Timok copper and gold project in Serbia.
The Cdn$240 million deal is expected to close in late April.
The $263 million deal is expected to close in the second quarter.
Lundin will pay Ecuador an advance royalty of $65 million. In exchange, the miner won’t be charged a windfall tax until it recovers its development investment.
The government is planning to open up new mining areas for gold and copper exploration.
So far, copper prices have failed to react significantly to news of supply disruptions, remaining more responsive to news from China, the world’s largest consumer.
Inspections that took place between 2013 and 2014, revealed 16 infractions, nine of which were considered very serious.
Two new deposits extend mine life at Chile mine bought for $1.8bn by 190,000 tonnes contained metal and three years.
I interviewed mining and oil tycoon Lukas Lundin for the Financial Post’s PDAC edition which is in print today.
Changing its name to Lundin Gold.
The firm is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces of gold resources (only two of the deposits have resource estimates on them).
Phoenix-based copper giant want to to sell its Candelaria copper-gold mine to Canada's Lundin Mining.