May 11, 2024
Headlines

January 2024

Codelco finalizes an agreement with the supervisors union at the Chuquicamata copper mine.

admin01 mins

On Friday, Chile’s state-owned Codelco, the largest global copper producer, announced the successful negotiation of a new contract with the union representing supervisors in its Chuquicamata division. The agreement, impacting 658 individuals, incorporates incentives tied to goal achievement and enhanced productivity, according to the company’s statement. While the financial details remain undisclosed, the contract spans…

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Sure bet Gold Discoveries Unveiled by Goliath

admin03 mins

In 2023, Goliath’s drilling initiative broadened and enhanced the Sure bet and Bonanza Shear zones, uncovering a novel gold-silver zone that introduces the possibility of significant deeper discoveries. Last year, over 34,000 meters of drilling at Golddiggers substantially augmented the dimensions and quality of the Sure bet and Bonanza Shear zones, while introducing the newly…

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Assessing the Balance: Is the Upside Worth the Risk in Copper-Rich Chile

admin05 mins

Nationalization remains a prominent subject in mining discussions. With tightening supply chains and increasing strength in long-term demand drivers, resource-rich nations are striving to secure a larger portion of their mineral wealth. Throughout South America, Africa, and Asia, countries are challenging established norms that enable multinational miners to profit substantially from local resources. Although nationalization…

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The mining industry identifies a strategy to navigate the necro crisis in Ecuador.

admin03 mins

Amidst the ongoing violent turmoil in Ecuador, the emerging mining industry envisions a path forward, as both operational mines and upcoming projects are anticipated to proceed as scheduled, bolstered by heightened security measures. Despite residents taking refuge at home due to President Daniel Noboa’s war on drug gangs, mines belonging to Lundin Gold Inc. and…

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First Quantum to unveil the preliminary preservation plan for the copper mine in Panama.

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On Wednesday, the Panamanian branch of Canadian mining company First Quantum Minerals announced its intention to present the initial stage of its mine conservation plan to government authorities on January 16. This decision follows the closure order issued for its project last year. Due to a ruling by Panama’s highest court, citing the contract as…

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Saudi Arabia increases its mineral resource estimates to $2.5 trillion.

admin03 mins

Saudi Arabia has increased its projections for untapped mineral resources, encompassing phosphate, gold, and rare earths, to $2.5 trillion, a significant upward revision from the 2016 forecast of $1.3 trillion, as indicated by the country’s mining minister. This reflects Riyadh’s strategic emphasis on diversifying its economy away from oil dependence, with a focus on harnessing…

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The decline in battery metal prices is forcing mine closures and hindering business transactions.

admin06 mins

A downturn in some of the highly touted energy-transition metals is causing disruptions throughout the mining sector. This has led to project delays, thwarted deals, and a race for funding that is poised to impact the industry for years. Lithium, a crucial metal for electric-vehicle batteries, has experienced an over 80% drop from its late-2022…

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Alcoa plans to gradually reduce production at the Kwinana refinery as part of a phased shutdown.

admin05 mins

On Tuesday, aluminum producer Alcoa (NYSE: AA) officially announced its decision to cease production at the financially unsustainable Kwinana refinery in Western Australia, bringing an end to over six decades of operations. The company attributed the decision to challenging market conditions and the facility’s aging infrastructure, leading to the unfortunate consequence of over 750 employees…

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