The Supreme Court of Peru has ruled in favour of a farmer that Newmont Mining (NYSE:NEM) claimed was illegally occupying land it wanted to develop into the Congo mine.
Peru Mining News
The news follows the end of a historically long 43-day strike at BHP Billiton’s Escondida, the world's biggest copper mine in neighbouring Chile.
The Vancouver-based precious metals streaming company announced the plan while posting a fourth quarter revenue increase of 29% to $258 million, up from $200 million last year.
Around 1,300 unionized miners plan to start an indefinite stoppage at Peru's largest copper mine beginning March 24.
Rumours come a year after the gold miner vowed to spend $640 million to extend the life of Lagunas Norte, worth about $1.4 billion according to industry experts.
The country's mining regulator will have to issue a new temporary closure plan for the project, including comments from other government offices.
Great Panther Silver's modus operandi is to buy a past-producing mine, get it up and running as quickly as possible, and use the cash flow to fund more acquisitions, says CEO Bob Archer
The $400 million-deal will make of Trevali the first pure zinc company with operations in North and South America as well as Africa.
Disputes at BHP Billiton’s Escondida mine in Chile, the world's biggest copper mine, and Freeport’s Grasberg and Cerro Verde mines, are also having a significant effect on global supplies of concentrate.
The mine produced just under 500,000 tonnes of the red metal last year, making it Peru's largest copper operation.
Strike at Freeport's giant Peru mine takes offline world's three biggest mines, but worries about demand drops copper after huge jump in warehouse stocks.
The top 10 ranking of the lowest all-in cost gold mines in the world – former US president Herbert Hoover was once in charge of no. 8 on the list.
The company is focusing on assets with the potential to add as much as 1.1 million ounces of gold to its total output beyond 2021.
Strike at Escondida, export ban and smelter problems at Grasberg and community clashes at Las Bambas.
World number five producer adding 600,000 annual tonnes in six years.
INTERACTIVE MAP: Together reserves at the global top 10 copper mining projects are worth more than $360 billion.
But lower all-in sustaining costs mitigated the impact of decreased production, preliminary full-year figures show.
As part of the world's third largest gold producer by market value's ongoing efforts to focus on highly profitable, core assets.
The new section of the Toquepala open-pit mine in southern Tacna, Peru, is expected to begin operations in early 2018.
Auryn Resources will use the C$41 million for 55,000m of exploration drilling across six gold-copper-silver projects in Canada and Peru this year.
The deal Great Panther announced last month to acquire Coricancha in Peru from Nyrstar is getting high marks from one analyst.
As every mining company knows, closing a mine can be costly, especially one the size of Newmont's (NYSE:NEM) Yanacocha in Peru.
The move is part of the new government's strategy to rebuild trust on the project following deadly protests that halted exports from the mine in October.
The gold producer said the region will play an increasingly important role in its growth strategy.
Preliminary deal is part of a series of agreements signed this week that will see China pouring close to $5.3 billion into Peru’s mining and energy sector.