Mineral Resources News
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South African Finance Minister Pravin Gordhan said companies, the government and labor unions need to end disputes that are halting mines and have pushed the rand to a four-year low against the dollar.
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Freeport-McMoRan Copper & Gold Inc. began a safety review at its halted Grasberg operation, the world’s second-largest copper mine, amid supply concerns that are boosting prices.
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The local unit of Freeport-McMoRan Copper & Gold Inc. declared a day of mourning after an accident at the Grasberg complex in Indonesia killed 28, prompting the nation to order a review of all mining operations.
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The death toll from a collapsed tunnel at Freeport-McMoRan Copper & Gold Inc.’s Grasberg complex reached 28 as Indonesia said it would review all mining operations following one of its worst mining accidents.
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Crude from the Bakken shale formation weakened against U.S. benchmark West Texas Intermediate after monthly production hit a record in March and rig counts for North Dakota rose.
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Anglo American Platinum Ltd. said its mines are running as usual after a group of workers threatened to strike if the world’s biggest producer of the metal refuses to drop proposals to cut as many as 6,000 jobs.
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North Dakota’s Bakken, one of the shale formations boosting U.S. oil production to 20-year highs, saw output rise to a record in March.
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Anglo American Platinum Ltd., the biggest producer of the metal, sought to appease government anger by scaling back planned job losses at its South African mines to about 6,000, less than half those originally planned.
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The Democratic Republic of Congo’s release of an affidavit explaining a mining deal by state-run Gecamines may allow the International Monetary Fund to proceed with loans for the country, an official at the lender said.
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President Tsakhia Elbegdorj leads his nearest rival by 13 percentage points heading into June 26 elections, according to a new poll, making it unlikely that he’ll face a serious challenge as he seeks a second term.
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