Новости за 20.02.2019

Glencore on Wednesday said it would "vigorously contest" a $680-million tax demand from the British authorities linked to transfer pricing. The Swiss-based mining and trading company has offices in London and is London-listed.

Following a board review of the company’s diamond assets, Lucapa Diamond Company will prioritise production and cash generation from its two high-value diamond mines, the Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho, to ensure shareholder value is maximised. This entails advancing the year-round Lulo kimberlite exploration programme to identify a possible source of the world’s highest-value alluvial diamonds; and cutting and polishing select special diamonds to accrete additional value beyond the mine gate.

Argentina has offered to share lithium geological information for exploration with India as it aims to promote government-backed joint venture (JV) mining projects in the Latin American nation. The Geological and Mining Survey of Argentina would share geological information with its Indian counterpart and Indian mining companies, while the Federal Mining Council of Argentina would coordinate with various Argentine provinces to promote bilateral JVs between government companies of both countries to implement projects.

Miner AngloGold Ashanti can resume a soil study halted by a municipal council ban on mining activities, the environmental authority in Colombia's Antioquia province said. The mayor of the town of Jerico had ordered a suspension of the work in January after the council voted late last year to ban mining in the area.

Peru moved to shut down a major illegal gold mine hub deep in the Amazon after years of expansion destroyed pristine rain forest and polluted rivers with mercury. The government deployed 1 500 agents from the police and armed forces to La Pampa in the Madre de Dios region of southeast Peru on Tuesday to begin closing down mine operations.

TSX-listed Euro Sun Mining has completed a preliminary economic assessment (PEA) for the initial phase of development at the Rovina Valley gold/copper project, in Romania, detailing plans to produce 108 000 oz/y of gold and 13.3-million pounds a year of copper, or 139 000 oz/y gold equivalent. The PEA focuses on the exploitation of the Colnici openpit, which will produce 1.67-million gold equivalent ounces over 12 years, at an all-in sustaining cost of $752/oz of gold equivalent.

This week, Mining Weekly editor Martin Creamer discusses Kumba and Amplats’ 2018 financial results

Australian miner Newcrest has entered into an option and farm-in heads of agreement with Canadian junior Cornerstone Capital Resources, focusing on two early-stage projects in south-central Ecuador. In terms of the agreement, a subsidiary of Newcrest has an option to earn up to a 75% interest in the Caña Brava and Tioloma properties, targeting epithermal gold/silver and porphyry gold/copper deposits.

The Northern Australia Infrastructure Facility (NAIF) will invest A$74-million in Australia's first plant to produce sulphate of potash (SoP). ASX-listed Kalium Lakes is developing the A$250-million Beyondie SoP project, which will produce 150 000 t/y SoP, with the option to incrementally phase the project through a ramp-up from 75 000 t/y to 150 000 t/y to minimise operational and financial risks.

Nickel miner Western Areas has reported a turbulent six months for the period ending December, with volatile nickel prices impacting revenues and profits. Revenue for the six months to December fell to A$123.6-million, compared with the A$132.4-million in the previous six months, while net profits after tax declined from A$8.3-million to A$150 000 in the same period.

Base and precious metals miner Hudbay Minerals has outlined a new mine plan for the Lalor mine, in Manitoba, which extends the mine life beyond ten years and transitions the operation to a primary gold mine, which will be one of the lowest-cost in Canada. The new mine plan includes the processing of gold and copper/gold ore at the New Britannia mill, which Hudbay will refurbish at a cost of C$124-million. This will increase production to about 140 000 oz/y during the first five years, at a sustaining cash cost... Читать дальше...

Eurasian Resources Group will halt production at a copper and cobalt mine in the Democratic Republic of Congo, as it considers future investment in new production methods. The shutdown at Boss Mining Sprl will curb cobalt supplies from a nation that accounts for three-quarters of global production of the metal used in rechargeable batteries. The suspension comes at a time of strained relations between Congo and investors after the nation last year introduced new taxes, including a 10% levy on cobalt exports.

Hudbay Minerals’s second-biggest investor ratcheted up pressure on the Toronto miner ahead of its quarterly earnings, arguing the company’s shares could more than double if it changes its strategy. Hudbay could be worth about C$19 a share if it changes its leadership, reviews its portfolio and improves capital allocation, Waterton Global Resource Management said Tuesday in a 73-page presentation. After rising as much as 6.8%, Hudbay’s shares were up 5.9% to C$8.40 at 2:03 p.m. in Toronto, giving... Читать дальше...

Intense rains at the start of this month in Chile, the world's top copper miner, likely hurt productivity at State-owned miner Codelco's Chuquicamata and Radomiro Tomic mines, the country's Mining Minister said Tuesday. Chile's mining industry has lost about $300-million due to the unusually strong rains that destroyed infrastructure and forced some mining operations to be suspended, according to preliminary government figures.