The price of iron-ore is set to drift lower in coming months as the coronavirus pandemic eats away at demand, moderating its outperformance against other industrial commodities this year.
Iron ore has given up about 10% so far this year compared to 40…
Robust iron-ore price to erode as steelmakers shut furnaces Read More »
Brazilian iron-ore miner Vale has received non-binding offers for its nickel mining operations on the Pacific island of New Caledonia, an executive said in a call with analysts on Wednesday.
On the call, Vale base metals chief Mark Travers said the co…
Vale receives non-binding offers for New Caledonia assets Read More »
Three of Russian metals and mining companies said on Wednesday they were tightening belts with tools varying from reduced investment to delayed dividends or postponed asset purchases as the new coronavirus outbreak is adding to risks.
Russia, a major …
Russian metals and mining firms reduce investment, delay divs amid coronavirus Read More »
Poland’s Tauron will cut hours and pay by 20% in its three coal mines for three months from May, making it eligible for government help during the new coronavirus crisis, the state-run utility said on Wednesday.
Poland relies on coal for almost 80% o…
Poland’s Tauron cuts hours and pay at its coal mines Read More »
Russia’s central bank sees no current need to restart purchases of gold for its reserves, it said in a letter to an association of Russian banks, a copy of which was seen by Reuters on Wednesday.
The association previously asked the central bank to re…
Russian central bank sees no need to restart gold buying Read More »
At least 100 illegal gold miners in South Africa are hiding underground, too scared to surface with police on patrol to enforce the coronavirus lockdown, according to industry sources. Many illegal miners, known as zama-zamas – a Zulu expression for &#…
Fears rise for illegal South African miners hiding underground in virus lockdown Read More »
Brazilian iron-ore miner Vale cut its forecast for 2020 capital expenditure on Tuesday and warned that the novel coronavirus could hinder medium-term production, underlining the impact of the outbreak on the labor-intensive mining industry.
In a secur…
Vale cuts capex as coronavirus hinders operations Read More »
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 c…
Mali parliament approves new mining code Read More »
South African gold miner Village Main Reef, which planned a turnaround of its operations that could lead to job cuts, said on Wednesday it had agreed to postpone the retrenchment process until after the nationwide coronavirus lockdown. The unlisted min…
Village Main Reef postpones potential job cuts until lockdown ends Read More »
China’s Zijin Mining has warned Papua New Guinea that its failure to renew the lease of a gold mine it jointly owns with Barrick Gold Corp there could damage bilateral relations.
Papua New Guinea on Friday said it would not renew a 20-year mining leas…
Zijin warns PNG of China anger over end of Barrick gold mine lease Read More »
