Mining

Tight supplies to push copper prices higher, Barclays predicts

Source: 
Platts

Barclays is predicting that copper prices will move up to an average of $6.313 per metric ton in 2015, with continuing constraints on supply, Platts reports.

Mining industry in better shape from cost cutting

Source: 
The Wall Street Journal

Having started spending cuts and other adjustments sooner than major oil companies, big mining firms are ahead of the game in balancing the books, The Wall Street Journal reports.

Discussion on seabed mineral mining

Washington, March 27, 2015, 12:00 pm

The Stimson Center to host discussion on recent developments in efforts to mine seabed minerals, the adequacy of the current legal framework and the challenges ahead.

2 huge gold mines paying $591K in fines for Nevada pollution

RENO, Nev. (AP) — The world's two largest gold-mining companies have agreed to pay nearly $600,000 in combined penalties in a deal with U.S. and Nevada environmental regulators that signals more stringent enforcement of pollution laws in the state that leads the nation in gold production.

Newmont USA is paying $395,000 and Barrick Goldstrike Mines $196,000 as part of an agreement with the state and U.S. Environmental Protection Agency to settle allegations they violated hazardous waste laws with mercury releases recorded during inspections at two huge open-pit mines in northeast Nevada dating to 2007.

Tracks reopen where oil train derailed in West Virginia

MOUNT CARBON, W.Va. (AP) — A rail line has reopened in southern West Virginia where an oil train derailed earlier this month.

A statement from multiple agencies responding to the fiery derailment said crews restored the tracks and reopened the line for commerce Thursday afternoon. Cleanup activities continue at the site in Mount Carbon.

3 killed in illegal Chinese gold mine

BEIJING (AP) — Farmers trying to extract gold from an abandoned mine in central China were overcome by chemical fumes, leaving three dead and six hospitalized, state media reported Tuesday.

Rescuers were dispatched to the mine in Songxian County in the central province of Henan on Saturday after a tipoff from the public, the Xinhua News Agency said.

Copper mining threatens Afghan site of ancient Buddhist past

MES AYNAK, Afghanistan (AP) — Treasures from Afghanistan's largely forgotten Buddhist past are buried beneath sandy hills surrounding the ancient Silk Road town of Mes Aynak — along with enough copper to make the land glow green in the morning light.

An estimated 5.5 million tons of copper, one of the biggest deposits in the world, could provide a major export for a war-ravaged country desperately in need of jobs and cash. But the hoped-for bonanza also could endanger rare artifacts that survived the rule of the Taliban and offer a window into Afghanistan's rich pre-Islamic history.

Underground bicycle park being built in old Kentucky mine

LOUISVILLE, Ky. (AP) — It's the perfect setting: millions of tons of dirt, plenty of space and an atmosphere that stays at a constant 58 degrees.

A new underground bicycle park with miles of dirt trails, jumps and stunt courses is being built inside an abandoned limestone mine in Louisville that has been recycled into a popular tourist attraction. The owners of the 320,000-square foot park say it will be the largest indoor course in the nation.

UN experts: Widespread gold and mineral smuggling from Congo

UNITED NATIONS (AP) — Experts monitoring sanctions against Congo are reporting widespread smuggling of gold, minerals and ivory out of the country by elements of the Congolese army and rebel groups among others.

In a report to the U.N. Security Council, the panel of experts also cited violations of the arms embargo and the continuing recruitment and use of child soldiers by rebel group including the FDLR which was formed by extremist Rwandan Hutus who fled across the border after taking part in the 1994 Rwanda genocide and are now the target of a Congolese army-led offensive.

U.S. ‘conflict minerals’ law hits African miners

Source: 
The Washington Post

A law intended to keep U.S. companies from involvement with so-called “conflict minerals” has had the unintended consequence of throwing African miners out of work, forcing many to join militias to support their families, The Washington Post reports.

Pages

Subscribe to Mining