The iron ore price has continued its meteoric rise of late, surging by 5.8% during Monday trading to US$145 per tonne – its highest recorded level since March 2013. The upward price movement has been driven by two factors; supply side issues out of Brazil following...
Vale is set to place its Goro nickel and cobalt mine in New Caledonia on care and maintenance after Australian miner New Century Resources failed to submit a binding offer for the operation. After the exclusivity period that the companies entered into in May lapsed on...
The International Council on Mining and Minerals (ICMM) has published a new global standard on managing mine waste facilities following a series of high-fatality accidents involving tailings dams. The highly anticipated global standard was developed in tandem with the United Nations (UN) with the aim of...
Vale has entered into a 60-day exclusivity period with Australian zinc miner New Century Resources after the latter announced it was in talks with the Brazilian miner to buy its nickel and cobalt operations on the Pacific island of New Caledonia. Subject to successful due diligence...
A new report from energy research company GlobalData has found that mining projects advancing to the next stage of development declined in the first quarter of the year as the world faced up to the COVID-19 (coronavirus) outbreak. The report found that the share of projects...
Copper producers around the world have moved to halt or cut back operations and slow construction projects of the bellwether metal as the global COVID-19 (coronavirus) outbreak continues. In South America, where the bulk of the world’s copper is produced, several mining giants have announced various...
Vale SA has announced a sharp decline iron ore output in the final quarter of 2019, which has seen the Brazilian mining giant lose its position as the world’s largest iron ore producer to Rio Tinto. The company reported a 22.4% fall in Q4 iron ore...
Rio Tinto and several of its large diversified rivals managed to further increase profit margins and cash flows during the 2018 financial year, according to a recent Fitch Solutions report. The report outlined how improved financial performances were a result of miners streamlining their operations, cutting...
Mining companies on the London Stock Exchange (LSE) were boosted yesterday in the wake of embattled Brazilian miner Vale’s decision to shut another iron ore mine in Minas Gerais state. The FTSE 100 was dominated by mining companies including Fresnillo, who ended the day up by...
The CEO of crisis-struck mining firm Vale has resigned amid growing public and political pressure following the collapse of a tailings dam at a mine in Brazil, which killed at least 186 people. Fabio Schvartsman and several other senior executives resigned on a ‘temporary’ basis on...