The Government of Burundi in East Africa has suspended operations at several mines run by international mining companies, citing an unfair share of income from the country’s mineral wealth. In a letter to the seven targeted companies of British, Chinese and Russian origin, Mines Minister Ibrahim...
Vale has announced it will spend US$122 million on exploration at its Thompson nickel operations in the Canadian province of Manitoba, where the Brazilian company has been mining since 1961. The investment – Vale’s largest such commitment at Thompson nickel – aims to establish new deposits...
Barton Gold has officially commenced trading on the ASX after receiving more than A$15 million in subscriptions within five days of launching the initial public offering (IPO). The South Australia-focused gold explorer issued 60 million shares to new investors at $0.25 each under the offering. It...
Anglo American chief executive Mark Cutifani yesterday told the audience at this year’s virtual CIM convention that the world cannot survive without the contribution of mining to every aspect of modern life. In a galvanising speech during the opening plenary of the annual Canadian mining event,...
A year-long stand-off between Barrick Gold and Papua New Guinea (PNG) has come to an end after the world’s second largest gold producing company agreed to give the country’s government a majority stake in the Porgera gold mine. The agreement creates a new joint venture in...
Anglo American has announced it will separate its South African coal assets into a new business later this year, amid growing calls to ditch the polluting commodity from its ESG-focused investor base. The demerged company, named Thungela Resources, will list on the Johannesburg and London stock...
Australia is projected to earn A$136 billion (US$104 billion) from iron ore exports during this financial year, as global steelmaking activity rebounds from a COVID-led downturn. A report released by the Australian government on Monday showed that the country’s most valuable economic export is expected to...
A new report from ratings agency Moody’s has found that the 130 rated issuers in the mining industry have improved their cumulative profitability since the 2015-16 market downturn. The total earnings (EBITDA) of the 130 rated mining companies reached US$230 billion in the 12 months ending...
The International Council on Mining and Metals (ICMM) announced yesterday that Rohitesh Dhawan, former managing director of geopolitical research firm Eurasia Group, has been appointed as the new chief executive of the peak industry body. ICMM described Dhawan as a ‘sustainability specialist with significant experience in...
Over the last year 34 countries saw a significant increase in mineral resource nationalism, according to latest research compiled in Verisk Maplecroft’s Resource Nationalism Index (RNI). The global risk and consultancy firm also warned that the economic impacts of the COVID-19 pandemic could contribute to a...