Latin America remained the most popular exploration destination, attracting 25% of global explorations spending in 2011, said to the Halifax-based Metals Economics Group's World Exploration Trends report released on Sunday.
Glencore on Monday expressed surprise over health and environment officials in Zambia's decision to immediately close a Mopani copper operation over complaints from residents of a nearby town. The London-listed commodities giant is also set to appear before a British inquiry over tax avoidance in the developing world.
Ivan Glasenberg, CEO of Glencore International stands to receive dividends worth roughly $110 million on Monday when the commodities giant announces its maiden full-year payment to shareholders.
Two of Zambia's largest copper mines, Glencore's Mopani and Xstrata's Kansanshi were shut over the weekend; the former over health concerns and the other after workers downed tools.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose to their highest in nearly a decade, data showed yesterday, suggesting oversupply in top copper consumer China where demand has been slower than expected.
A new survey by The Economist Intelligence Unit finds when institutional investors interested in frontier markets were asked to choose two regions out of five, two-thirds see Africa – projected to be the fastest growing region on the planet this year – as holding the greatest opportunity.
Chinese-owned mining company Ecuacorriente will sign a contract to invest $1.4 billion over five years for extracting copper in Ecuador's southern Amazon, reports local newspaper La Republica.
After steady gains throughout the day Ivanhoe Mines – building one of the richest copper and gold mines in the world – ended Thursday up 5.47% after CEO and founder Robert Friedland said he's found buyers for the company's other assets.