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HudBay talks about violence at Fenix in Guatemala
Mining companies are not strangers to violence that can surround their activities in the developing world. In recent weeks, there have been deaths in Indonesia, Peru and now Guatemala during protests related to ongoing or incipient mining. In Guatemala on Sunday, one person apparently was killed and 13 injured when a long-simmering land issue arose [...]
Real energy projects continue to take shape around the world
There were two pieces of news on the wire today about energy projects whose combined value exceeded $80 billion, two of the largest such projects in history. And of no surprise to anyone halfway savvy, neither of them had anything to do with “green” or renewable energy. These two stories came hard on the heels [...]
Teck Resources sells 17.2% of equity to China Investment Corp.
Teck Resources Ltd. said July 3 it has agreed to sell to China Investment Corp. shares that represent about 17.2% of its equity. It will use the net proceeds from the transaction of more than C$1.7 billion to reduce its debt. CIC has agreed to purchase through a wholly-owned subsidiary 101.3 million Class B subordinate [...]
U.S. Supreme Court upholds Kensington mine tailings permit
In a decision issued this morning, the U.S. Supreme Court upheld the decision by federal agencies allowing a unit of Coeur d’Alene Mines Corp. to place tailings from its Kensington gold mine near Juneau in a nearby lake. In doing so, the court sorted out some of the confusion arising from conflicting direction in the [...]
Xstrata, Anglo American say they’re discussing merger
Responding to press speculation, Anglo American plc confirmed over the weeked it has received a preliminary proposal from Xstrata plc “which may or may not lead to a transaction involving the Group.” Shortly afterward, Xstrata confirmed that “it recently sent a written proposal to the board of Anglo American seeking their consideration of a merger [...]
HudBay to close Flin Flon copper smelter by 2010, then refinery
HudBay Minerals Inc. said this morning it expects to close its copper smelter in Flin Flon, Manitoba before July 1, 2010, and its copper refinery in White Pine, Michigan shortly thereafter. The financial impact of the smelter closure on the company will be minimal, it added, as the processing costs from the sale of concentrates [...]
Trial mining, drilling boost Hollister resources by 27%
The overall contained gold-equivalent ounces at its Hollister in Nevada’s Carlin Trend have increased by 27% from 2.3 million in June 2008 to 2.9 million, Great Basin Gold Ltd. said this morning. At a cut-off grade of 0.25 opt, the combined measured and indicated mineral resources contain 1.45 million gold-equivalent ounces grading 1.167 opt for [...]
Baja Mining gets good news on manganese recovery at Boleo
Baja Mining Corp. said today that a key milestone has been achieved towards manganese metal production at its Boleo project in Baja, Mexico. Staff at the University of British Columbia’s Hydrometallurgy Research Laboratory have successfully demonstrated that manganese metal can be manufactured from Boleo manganese carbonate using conventional hydrometallurgical processing steps, the company reported. A [...]
With market up, Thompson Creek to boost moly output by 10%
Thompson Creek Metals Co. Inc. said yesterday it now expects production and sales of molybdenum from its own mines will be in a range of 22 million to 26 million pounds in 2009, up from previous guidance of 20 million to 24 million pounds. “In response to the recent improvements in the molybdenum market, the [...]
