Mining

21 trapped miners confirmed dead in China

BEIJING (AP) — Chinese authorities have confirmed the deaths of 21 missing miners who were trapped in an August mine collapse in eastern China, bringing the death toll to 27, state media reported Wednesday.

The official Xinhua News Agency said an explosion ripped through the Dongfang coal mine in the city of Huainan on Aug. 19. The search for the missing miners was hampered by collapsed shafts and gas pockets but ended with the confirmation of the 21 deaths. Six bodies had already been found, while 12 miners escaped, Xinhua reported.

Miners struggling to find more cuts to match falling metal prices

Source: 
The Wall Street Journal

PricewaterhouseCoopers said in a report that metals companies will have to establish new plans for growth as they have limited room to cut costs as metals prices decline, The Wall Street Journal reports.

UK mining firm in bankruptcy on market slump, Ebola

LONDON (AP) — Debt-plagued London Mining PLC has filed for bankruptcy protection in the wake of a slump in iron ore prices and as the Ebola outbreak complicated the sale of a mine in Sierra Leone.

The company said Thursday that a lack of liquidity, together with lengthy negotiations between potential buyers of its Sierra Leone Marampa mine, forced it to file for administration.

Alcoa 3Q boosted by higher aluminum prices

DALLAS (AP) — Alcoa Inc. said Wednesday that third-quarter income soared as higher aluminum prices and lower costs for raw materials boosted its core primary-metals business.

The results beat Wall Street expectations, and the company's stock rose 2 percent in after-hours trading.

CSIS forum examines best practices in extractive development

Washington, October 9, 2014, 7:45 am

CSIS forum, "The Trade and Development Nexus, Science and Technology, and Governance in the Extractive Industries." Speakers include USAID official Virginia Brown, State Department Bureau of Energy Resources Deputy Director Marti Flacks.

Chile's top court halts Goldcorp's El Morro mine

SANTIAGO, Chile (AP) — Chile's Supreme court on Tuesday suspended the development of El Morro mine owned by Canada's Goldcorp after siding with indigenous groups that oppose it on environmental grounds.

The top court ordered the project's environmental permit be withdrawn until the Diaguita indigenous community is consulted about the gold and copper mine. In doing so, it overturned a lower court decision dismissing an appeal the Diaguita filed in April.

Freeport-McMoRan selling 80 pct. of stake in mine

PHOENIX (AP) — Freeport-McMoRan Inc. is selling 80 percent of its stake in a copper and gold mine in Chile for at least $1.8 billion.

The mining company announced the sale agreement Monday for the Candelaria-Ojos del Salado mine with Lundin Mining Corp. of Canada. In addition to $1.8 billion in cash, Freeport-McMoRan also said it will receive 5 percent of copper revenues in any year over the next five years if the average price exceeds $4 a pound. It's currently trading at just over $3 a pound. That could total as much as $200 million, the company said.

Mine safety violations down

WASHINGTON (AP) — The number of chronic safety violators among mine operators has fallen sharply in recent years, according to government figures released Thursday.

The Mine Safety and Health Administration says the number has dropped in response to reforms the agency has taken to rein in bad actors. The National Mining Association counters that the industry's own safety program deserves the credit.

Judge upholds ban on new mining claims on 1M acres

FLAGSTAFF, Ariz. (AP) — Former Interior Secretary Ken Salazar did not abuse his discretion or violate any laws in prohibiting new hard-rock mining claims on one million acres near the Grand Canyon, a federal judge ruled Tuesday.

Salazar announced the 20-year ban in 2012 for an area rich in high-grade uranium reserves outside Grand Canyon National Park. Mining industry groups and a Chino Valley resident quickly sued, saying the ban was irresponsible public policy and violated federal laws.

Too early to file lawsuit vs EPA over Pebble Mine: Judge

Source: 
The Hill

Because Environmental Protection Agency actions regarding the Pebble Mine haven’t been finalized yet, federal courts don’t have jurisdiction to hear complaints about the matter, Judge H. Russel Holland ruled Friday, tossing out a lawsuit filed by Northern Dynasty Ltd., The Hill reports.

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