But what happens up here in Pascua-Lama, where Canadian mining giant Barrick Gold is developing the first open-pit gold mine to straddle two countries, will have a huge impact on the people living in the valleys below on both sides of the border — for better or for worse.
The former CEO of the world’s largest nickel and palladium producer Norilsk Nickel Vladimir Strzhalkovsky will receive record compensation when he gives up his seat on the board to billionaire Vladimir Potanin on Monday.
Strzhalkovsky will receive half the sum immediately with the remainder coming in two equal parts during 2013, Vedomosti daily says referring to their sources
http://rt.com/business/news/norilsk-nickel-strzhalkovsky-potanin-047/
As more analysts added their voice to the chatter about BHP Billiton divestments, it appears the Big Australian’s WA nickel assets are safe for now.
http://au.news.yahoo.com/thewest/a/-/breaking/15634923/bhp-nickel-assets-safe/
JOHANNESBURG (miningweekly.com) – The projected investment in the Australian mining industry is 18 times higher than the projected investment in South Africa’s mining industry, which has a history of better returns.
China has set up a special fund derived from its central government budget in order to develop and upgrade its rare earth sector and support producers hit by weak prices.
SANTIAGO, Dec 5 (Reuters) - The Caserones copper mine in Chile, owned by JX Nippon Mining and Metals Corp and Mitsui & Co, is poised to start production soon, and construction should be finished by the end of 2013, the project's vice president told Reuters on Wednesday. http://www.reuters.com/article/2012/12/05/chile-copper-caserones-idUSL1E8N52JB20121205
Kremlin appears to endorse deal that hands biggest voting share in $30bn Norilsk Nickel to Chelsea owner.
http://www.guardian.co.uk/world/2012/dec/04/roman-abramovich-nickel-mine-norilsk
RIO DE JANEIRO, Dec 3 (Reuters) – Brazil’s Vale SA , the world’s second-largest mining company, cut estimated 2013 capital spending by 24 percent after a global slowdown and a drop in iron ore prices led the company to rethink its outlook for expansion.
http://www.reuters.com/article/2012/12/03/vale-investments-idUSL1E8N30UO20121203
A Russia Now correspondent visits a Norilsk Nickel mine beyond the Arctic Circle for a taste of life in the tunnels nearly a mile below ground.
http://www.telegraph.co.uk/sponsored/russianow/features/9718598/norilsk-nickel-mine-visit.html
Canadian mining firm Barrick Gold is said to be concluding talks to sell all or part of its 74 per cent stake in ABG to China’s largest gold producer, China National Gold Group Corp (CNGG), a deal first announced on August 16. The deal, analysts said, could lead to a sharp decline in traditional Western trading partners’ stranglehold on Africa’s mining sector as China scrambles to take over exploration and mining operations in Africa to satisfy its expanding domestic demand for commodities, especially gold.
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