Media reports had said production at Chuquicamata would drop to around 182,000 tonnes by 2021 from 459,000 tonnes this year, addin that the fall would impact Codelco’s total production by around 4%.
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Once at full-tilt, the open-pit operation is expected to generate 65,000 ounces of gold annually over an 8-year mine life.
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The Chilean lithium producer expects demand to grow about 17% in 2019 to at least 315,000 tonnes, compared to the less than 260,000 tonnes it totalled last year.
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Copper output in Africa’s second largest producer could decline by as much as 100,000 tonnes this year, adding to recent, sharp declines at the world’s main producing nations.
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The exploration activities, part of a joint venture the two companies signed in March, aim to define the extent of mineralization along strike and at depths to 1,000m below surface
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Comments come after parent company Barrick Gold proposed to acquire all of the shares it does not already own in the Tanzanian miner.
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The world’s largest miner has revised up expectations for electric vehicle sales and market penetration, but warns the electrification of the transport sector will proceed only as fast as the development of charging infrastructure.
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UK-based charity The Eden project, has partnered with Alcoa to build a $150 million eco-tourism attraction at the company’s former Anglesea coal mine, in Australia.
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The Australian miner, the world’s only major producer of rare earths outside China, said the A$500 million-plan ($346 million) aims to boost production, appease Malaysian regulators and fend off takeover attempts.
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Decision to take a dual listing comes as Canadian investors shun junior miners, preferring the buzz and growth potential of cannabis producers.
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