Latest News
Diamond houses keep fingers crossed after change of guard at De Beers
For decades, a quaint practice marks the secretive world of diamond trade. Every five weeks, elite diamond houses from all over the world assemble in a room in London, and behind the closed doors, each one of them is given a small box of rough stones by De Beers - the...
Anglo American to focus investments in Brazil, CEO says
London-based resource group Anglo American will focus its future investments in Brazil, CEO Cynthia Carroll told reporters during the inauguration of the Barro Alto nickel plant in Goiás state on December 6. See...
Anglo American OKs $1.7 billion Queensland project to triple its Australia met coal output
Anglo American has said its board has approved the $1.7 billion Grosvenor metallurgical coal project in Queensland, Australia, which is expected to produce five million tonnes per year over a projected life of 26 years. The London-based diversified miner said it plans...
Collahuasi withdraws EIS for US$173mn water transfer project
Chilean miner Collahuasi has withdrawn an environmental impact study (EIS) submitted on November 18 for a US$173mn water transfer system to supply its expansion project in Chile's northern region I. The EIS was undergoing the admissibility test and was expected to be...
Richest Australians see their pickings fall – and mine safety record shames entire industry
How the mighty have fallen! According to a recent survey, billions of dollars have been wiped off the bank accounts of Australia's richest individuals - especially those who profit from the mining industry. Nonetheless, they're far from being completely down,...
Glencore CEO vows never to sell shares
Glencore's CEO Ivan Glasenberg told Swiss paper 20 Minuten that he would not sell any of his shares in the company as long as he worked there. See http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=140956&sn=Detail&pid=92730.
Vedanta seeks coal mines overseas, to participate in India auction
With India set to auction off as many as 58 coal blocks to the highest bidder, Vedanta has thrown its hat in the ring. See http://www.mineweb.com/mineweb/view/mineweb/en/page38?oid=141185&sn=Detail&pid=92730.
Patagonia goes Canadian
“It has taken about a year, but on Wednesday shares of Patagonia Gold PLC will be listed on the Toronto Stock Exchange” noted Barry Critchley in the Canadian Financial Post (FP). But despite having a market capitalization of more than $600-million, it is hard to see...
Cheap and green energy for miners
It may seem somewhat audacious for a company with a market value of $16 million to propose a world-leading energy project nearly one hundred times its value. But, says Petratherm managing director Terry Kallis, if you don’t dream, you don’t get. And he just happens to...
LME overhauls electronic platform as trading volumes surge
The London Metal Exchange said it had completed a major upgrade to its electronic trading platform called LMEselect with partner Cinnober to handle increased volumes – trading to date is up more than 20% compared to last year’s record volumes. A takeover of the the...