Glossary of Mining Terms

A reference table for basic element data, with related information on average crustal abundances, isotopes, water quality standards, common minerals and more.  
                                           

Monday, April 27, 2009

Angola sees pickup in diamond mining

Angola's diamond industry is begun to illustrate positive symbols of recovery, according to the mines minister former times, even though a number of international companies drag out. Mankenda Ambroise, minister for geology and mining, told AFP the country was formulating approximately 70 million dollars a month, up from 25 million at the beginning of the year.

"We are starting to view positive signs," he said in Luanda. "This urgent situation will pass and the Angolan government has taken steps to protect not in favor of it."

The government has make an effort to shore up the industry by buying diamonds itself when international prices fall down production costs, and by assurance salaries of workers where mines have been for the short term closed to stop mass unemployment in some of the country's poorest regions.

The world's fifth-biggest diamond maker, Angola had expected production of 10.5 million carats for 2009, whereas this is possible to drop to approximately nine million, the minister said.

"Even with the crisis, production persists. The difficulty is with the commercialization, but our doors are open for upcoming buyers and we are calling on all those who have the currency and the ability to invest to do so," Ambroise said.

He added that companies that left Angola in the past year would not be welcome back.
In January Angola cancelled the World Diamond Summit, planned to be detained here this November, citing the global downturn as the reason.

Botswana declares yesterday it was divide production to 15 million carats due to dropping global stipulate.

Wednesday, April 15, 2009

Boost-up in Precious Metals in Chile & Peru!

The Latin American countries—Chile and Peru—are the world's two largest copper Manufacturers. Both the countries are also hot targets for mining in other valuable metals like gold, silver and zinc.

In 2008, investments in the mining industry in Chile and Peru had fallen thanks to the unpredictable global markets and recession in the metals industries.

There is gonna be change in 2009. Chile and Peru are all set to get hefty mining investments in gold, silver, copper and zinc segments. Juan Carlos Guajardo, executive director at industry think-tank CESCO: "quite a lot of main mining projects in Chile and Peru were either cancelled or deferred as of the global economic reduce. But few of these projects are going to be launched again this year," he said.

He stated that the opportunities for copper mining in Chile and Peru are going to be vast as copper prices are currently hovering around $2 per lb. "With this price, copper mining industry will be able to validate manufacture and progress of mines," he said.

Chile is the world's major copper manufacturer. Industry leaders said $50 billion mining investment has been estimated for the country for the next 10 years.

Peru is the world's biggest manufacturer of silver, second top manufacturer of copper and zinc. Peru also gets fifth in gold mining all over the world.

Industry leaders stated that mining Investment in Peru this year will be approximately $3 billion. Two major projects going forward in Peru are Toromocho, the huge copper development of Chinalco and Galeno, managed by Minmetals.

Wednesday, April 1, 2009

Sumitomo Metal Mining-Reduce in Nickel Output by 7.8% in 2009

Sumitomo Metal Company is the top most nickel producer and it's also second largest copper smelter and this mining company has planned to reduce the production of Nickel by 7.8% in this financial year 2009 due to plunge in demand for the steel makers.

In a statement it specified that the Tokyo based company advanced nickel output is sure to drop to 33,200 metric tons in the year started April 1 from the previous fiscal year's estimated return is of 36,000 tons. This company is also gonna reduce ferronickel production to 16,800 tons from the previous year's 22,400 tons. But there will be an increase in copper production i.e. it'll produce 401,000 tons up from 394,000 tons from the previous year!

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