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Mali parliament approves new mining code
Mali’s parliament on Tuesday approved a new code that eliminates mining companies’ value added tax exemptions during production and shortens the period during which they are protected from fiscal changes to 20 years, a lawmaker told Reuters. The new code, which...
First Quantum revises guidance for 2020
With its Cobre Panama mine on care and maintenance since April 7, First Quantum Minerals has reduced its copper guidance for the year by 75,000 tonnes to 755,000-805,000, with expected gold production falling by 30,000 oz. to 250-270,000 oz. The forecast depends on...
Mongolia cancels Tavan Tolgoi’s $1 billion IPO plan
Mongolia has cancelled an executive order to fund its giant Tavan Tolgoi coal project through an international initial public offering (IPO), citing “political distortions” and the current dire state of global financial markets. Erdenes Tavan Tolgoi (ETT), the...
Papua New Guinea hits back at Barrick for halting Porgera
Papua New Guinea is threatening to take immediate control of Barrick Gold’s Porgera mine after the company’s local unit halted operations over the weekend following news that the mining lease would not be renewed. Barrick, the world’s second-largest gold miner, and...