The proceeds of the sale will be used to reduce a debt pile of $13 billion with a target of wiping out $3 billion this year.
Company confirms that the Institute for Water Management in Minas Gerais (IGAM) found levels of arsenic, lead and other toxic elements many times higher than the legal maximums along the river.
The UN’s human rights agency also said the companies did not take enough measures to prevent the disaster.
For nearly five centuries gemstones have been synonymous with wealth, power, luxury and royalty.
HSBC downgraded the company to 'reduce' from 'hold' and highlighted that Anglo's precarious cash flow situation may force it to cancel its dividend.
The miner is likely to cut its iron ore output target for the year from 376 million tonnes to 355 mt, says independent investment bank BTG Pactual.
The 50/50 joint venture, momentarily named Project Corridor, is expected to help slash development costs as metal prices have dropped to multiyear lows.
Small-scale miners are being forced out at gunpoint or extorted to work for the armed groups that are taking over their operations. These gangs later sell the gold in the U.S., a report reveals.
The news came as the price of iron ore continues its month-long retreat, diving to a fresh 10-year low Tuesday to $43.69, according to The Metal Bulletin index.
The ongoing slump in copper prices spells trouble for Chile's mining industry, where most medium-sized producers are already unable to make a profit.
A recent decision by Peru’s government to require mining companies to carry out prior consultation with indigenous communities is set to further complicate the investment climate.
The emeralds and rubies miner raised $19.2 million from its recent auction in Jaipur, India.
With the announced cuts the diversified miner brings the total redundancies over the past 18 months to about 2,000.
With the changes, Anglo’s chief Mark Cutifani is trying to turn around the company’s fortunes following years during which it has underperformed its peers.
The move would help the miner meet its ambitious target for reducing its $13 billion debt by $3 billion before year-end.
Most mining companies and financiers active in Mexico, Central and South America continue to explore, develop and operate projects despite current market conditions.
The drastic move makes of Codelco the mining company that has let go the highest amount of workers in Chile since copper prices began their decline over a year ago.
The former president says lack of immediate benefits for communities has driven mining opposition causing the country to lose billions worth of gold and copper projects.
The money is the first payment in a $3 billion aid plan authorized under a new funding mechanism, designed to avoid a slump in production.
The government is planning to open up new mining areas for gold and copper exploration.
The situation, says the ratings agency, won’t change over the next 12 to 18 months, and metal prices may fall even further.
The copper mine, one of the world's biggest, is on track to begin production in the first quarter of 2016, despite weak prices and relentless protests against the project.
The U.S’s largest mining company unveils plans to further slash copper and molybdenum output.
Earnings, however, beat analysts’ estimates as Canada’s largest diversified miner cut costs to deal with weak commodity prices.
The world’s largest producer of iron ore continues to flood the market with the addition of 88.2 million metric tons in the third quarter of the year.
A month after Anglo completed the sale of Mantos Blancos and Mantoverde copper mines in northern Chile, analysts are calling into question the firm’s chance to unload two other assets.
Get Mining News and Alerts
sent to your inbox daily