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Vale to suspend disposal from Brucutu mine at Laranjeiras dam
Vale SA, the world’s largest iron ore miner, said on Monday that it would slash output from its Brucutu mine for up to two months as it evaluates the stability of the nearby Laranjeiras dam, where much of the mine’s waste is normally disposed. The move will leave...
Zijin Mining to buy Canada’s Continental Gold in $1 billion deal
Zijin Mining, China’s No.1 gold producer, is buying Canadian miner Continental Gold for almost C$1.4 billion ($1bn), in a move aimed at increasing the company’s bullion reserves and boosting cash flow as well as profit. The mining giant is offering C$5.50 a share in...
Great Panther revises fourth quarter guidance for Tucano mine
Great Panther Mining has revised its fourth quarter production guidance for the Tucano gold mine in Brazil to between 31,000 and 33,000 ounces of gold, a steep drop from 39,000 to 44,000 ounces. Annual consolidated guidance, which includes the company’s Mexican...
Codelco to cut spending by $8bn through 2028 as profit halves
Chile’s Codelco, the world’s largest copper producer, will scale back its ambitious $40 billion, 10-year plan aimed at upgrading aging mines after reporting on Friday a 57% drop in pre-tax earnings to September due to a combination of factors including heavy rains, a...