Troubled Vancouver miner, Baja Mining (TSE:BAJ), said that it laid off 40% of its staff to conserve cash and admitted that there is "no assurance" that it will find funding to complete its Boleo project, a $1.143 billion copper-cobalt-zinc project in Mexico.
Graff Diamonds only received half the expected orders. Its announcement comes just one week after China Nonferrous Mining Corp pulled the planned listing of its Zambian copper assets in Hong Kong.
If the board of the world's largest miner does not make a decision on the giant copper-gold-uranium-silver project in South Australia's outback by 8 December then it would lose all approvals and royalties concessions.
The raft of US economic numbers out this week and the stream of bad news emanating from Europe saw the gold price swing in a $40 an ounce range on Wednesday.
Chile’s Codelco new CEO, Thomas Keller, has traveled to London this week to hold talks with global miner Anglo American (LON:ALL), hoping to resolve a multi-billion dollar contract dispute between the parties.