LA PAZ – Japan’s Sumitomo Corp. said it invested $1.8 billion in the development of mining subsidiary San Cristobal, which produces lead, zinc and silver in southwestern Bolivia.
Sumitomo executive Hiruo Makusaki discussed the project with reporters after meeting with Bolivian President Evo Morales in La Paz on Monday.
Read more at: http://www.laht.com/article.asp?ArticleId=1506488&CategoryId=14919
Santo Domingo.- The CEO of Xstrata Nickel’s Dominican Republic operation (Falcondo) on Sunday reiterated that the company’s presence in the country depends on a long term mining, with cheap electricity available, to produce and compete in world markets.
David Soares said they pin their hopes of extracting nickel at the controversial site of Loma Miranda, between La Vega and Bonao (central), for which they expect to get the mining permit.
Read more at: http://www.dominicantoday.com/dr/economy/2014/1/20/50274/We-need-guarantees-to-continue-Xstrata-Nickel-Dom-Rep
The National Union of Metalworkers of South Africa said BHP Billiton Ltd. (BHP) may sell its Bayside aluminum smelter, which the world’s biggest miner has earmarked for closure, to Hulamin Ltd.
“We do hear that they have an interest in buying that smelter,” Mbuso Ngubane, Numsa’s regional secretary for the KwaZulu-Natal province, said today by phone, referring to Hulamin, a manufacturer of finished aluminum products. The union has members at both operations.
Read more at: http://www.bloomberg.com/news/2014-01-20/bhp-seen-selling-south-african-bayside-aluminum-plant-to-hulamin.html?cmpid=yhoo
Andrew Harding, Chief Executive – Iron Ore, Rio Tinto has been confirmed to give a keynote address at the upcoming 17th annual AJM Global Iron Ore & Steel Forecast conference and exhibition. He joins BHP Billiton President, Iron Ore, Jimmy Wilson, James Harman of Anglo American and a senior representative from Fortescue Metals Group.
Read more at: http://www.metal.com/newscontent/56835_bhp-rio-anglo-american–fmg-to-speak-at-the–17th-annual-global-iron-ore–steel-forecast
Jilin Jien Nickel Industry Co was up by 18.98 percent from a week ago while Chengtun Mining Group Co gained by 21.63 percent.
Read more at: http://www.globaltimes.cn/content/838315.shtml#.Utwx4tIo74Y
Read more at: http://www.taipeitimes.com/News/biz/archives/2014/01/19/2003581596
Aluminum producer PT Indonesia Asahan Aluminium (Inalum), now a state-owned enterprise, will gradually increase production to 650,000 tons per year from the current 260,000 by expanding the development of stoves, new power plants and other supporting facilities.
“We are committed to realizing our corporate strategic plans within the next five to 10 years by, among others things, trying to boost production and diversifying products,” said Inalum president director S S Sijabat in Medan, North Sumatra, on Saturday as quoted by Antara news agency.
Read more at: http://www.thejakartapost.com/news/2014/01/19/inalum-boost-production-650000-tons-year.html
Mining companies are extending massive cuts in exploration budgets for a second year, setting up the next price boom as China continues its relentless pursuit of metals and energy.
Exploration spending plunged 30 per cent or US$10 billion last year, squeezing budgets to search for minerals and sustain supplies, according to MinEx Consulting, whose clients include top miner BHP Billiton. Payments might drop a further 10 per cent this year for geologists, drilling exploratory holes and analysing mineral specks to unearth the next copper, iron ore or gold El Dorado, MinEx said.
Read more at: http://www.scmp.com/business/commodities/article/1408001/big-cut-mining-firms-budgets-spark-metal-price-boom
Mining giant Rio Tinto unveiled fresh production and shipment records for its flagship iron ore business Thursday, with both up five percent on-year in 2013.
Anglo-Australian Rio said iron ore shipments were up six percent quarter-on-quarter in the final three months of 2013 and production was three percent higher, boosting annual readings for both by five percent compared with 2012.
Read more at: http://www.globalpost.com/dispatch/news/afp/140115/rio-tinto-hits-iron-ore-output-shipment-records
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