Scientists have discovered why some of the richest ore deposits on the planet, such as copper, zinc, silver and uranium, were formed in the middle period of Earth’s history.
Ore Mining News
Companies had no choice but to cut back on new developments, re-focus on profitable production rather than maximum production and to save costs.
The move will help the cash-strapped coal and iron ore miner to continue operating for the short term.
But the miner revised down its 2015 U.S. iron ore sales and production volume estimate to 20.5 million tons, from its previous guidance for 22 million tons
The mining giant said it was committed to giving significantly more money back to shareholders in 2015 despite a severe drop in iron ore prices.
The move is seen by analysts as an attempt to strengthen the firm’s image.
Amongst the swathe of comment, reaction and analysis surrounding Glencore’s attempted takeover of Rio Tinto – revealed recently but rebuffed back in August – there was little surprise that Glencore would attempt such a move.
In light of the Indonesian mineral ore ban that came into force on January 12th 2014, Wood Mackenzie says the aluminium industry - particularly in China - faces a challenge to address a growing shortage of the raw material bauxite, an aluminium ore.