Rio Tinto down despite $7.2bn cash return to investors
Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.
Cecilia Jamasmie , Editor-in-Chief
Posts by Cecilia Jamasmie:
McEwen Mining posts loss on strong investment to grow key assets
The Canadian precious metals miner logged a $10.6-million net loss for the first half of the year following a $49-million investment in its Gold Bar, Black Fox and Los Azules projects during the period.
Glencore’s cobalt output up by almost a third thanks to Congo mines
Glencore is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.
Fresnillo soars despite profit drop on Silverstream revaluation
Silverstream valuation had an adverse effect on profit before income tax, which came down 16.6% to $323 million.
De Beers ready to begin South Africa’s Voorspoed mine closure
The failed plan was to find an operator with a lower cost structure or a different mining approach that would be able to take over and extend Voorspoed’s life.
US State Department sees ‘minimum’ impact from Keystone XL new route
The alternate route approved last year by Nebraska regulators is expected to have minor to moderate effects on three of the eight environmental categories the U.S. State Department assessed.
Randgold to revise full-year forecast as readies Tongon mine for restart
As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year.
Codelco’s Chuquicamata copper mine hit by strike, blockage
Workers have downed tools and blocked access to the mine in protest of the "unjustified layoff" of two colleagues.
Caterpillar says tariffs will wipe out up to $200M
Demand for mining as well as oil and gas equipment is so strong that the company said it was taking orders for delivery well into 2019.
BHP final pay offer to Escondida workers falls short of union demands
BHP has offer workers a signing on bonus of $27,000, up from an earlier offer of $23,000, plus a 1.5% salary increase, but still well under the bonus up to $43,000 and 5% increase demanded by Escondida’s union.
Savannah nears full ownership of Barroso lithium lease
The Aldeia lease transfer would expand Barroso’s resource base as Savannah targets EU lithium supply and advances permitting.
