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Chile’s GDP gets a jolt from rising mining and investments

Chile’s economy surged in the fourth quarter as increases in mining output and investments set the stage for continued growth going forward. Gross domestic product grew 1.3 percent in the fourth quarter, up from a revised 0.2 percent expansion in the three months through September. The economy expanded 3.6 percent from the fourth quarter of […]

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Russian diamond miner Alrosa wants controlling stake to mine in Zimbabwe

Russian state-controlled miner Alrosa will assess the quality of Zimbabwe’s diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company’s chief executive said on Monday. Zimbabwe is seeking to attract investment and has scrapped legislation that restricts foreign participation for […]

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Tanzania sets up mineral trading centres to curb illegal gold exports

Tanzania has ordered all mineral-producing regions in the East African nation to set up government-controlled trading centres by the end of June, accelerating efforts to curb illegal exports of gold and other precious minerals. The trading centres will give small-scale miners direct access to a formal, regulated market where they can go and directly trade […]

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Bristow taking Barrick helm aids talks, Tanzania AG Says

Mark Bristow taking over the leadership of Barrick Gold Corp. facilitated negotiations with Tanzania about a multibillion-dollar tax dispute that could be resolved by May, the country’s attorney general said. Barrick unit Acacia Mining Plc has been at odds with Tanzania’s government since July 2017, when the state handed it a $190-billion tax bill, saying […]

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Chinese go-slow on Australian coal imports may be starting to show

China’s unofficial go-slow on clearing Australian coal through customs didn’t show up in the first two months of this year, but it may now be starting to have an impact. Chinese coal traders are reported to have cut back on buying from Australia, the world’s largest exporter of the fuel, after the length of time […]

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Brazilian court freezes $260 million from Vale’s accounts

A Brazilian court has ordered iron ore miner Vale (NYSE:VALE) to freeze 1 billion reais (about $260 million) in funds as compensation for affected communities following the January dam disaster at the company’s Corrego do Feijão mine, which left at least 300 people dead. “In addition to the block of funds, the decision also requires […]

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De Beers, Botswana to expand world's richest diamond mine

Botswana’s Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country’s government, have awarded Thiess’ subsidiary CIMIC a $1.2-billion contract to extend the lifespan of their Jwaneng mine. Jwaneng, which began operations in 1982, is currently 650 metres deep, but its owners want to deepen the pit to 830 meters (2,700 […]

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Kyrgyz and Turkish miners join forces to develop gold projects in Central Asia

Kyrgyz gold producer Chaarat (AIM:CGH) and Turkish mining and mine construction contractor Çiftay İnsaat Tahhüt ve Ticaret signed today a binding term sheet to enter into a joint venture with the idea of collaborating on the Tulkubash and Kyzyltash projects in the Kyrgyz Republic. In a press release, the companies explained that even though they […]

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Havilah Resources to explore for additional copper-cobalt resources in the Mutooroo district

Havilah Resources (ASX: HAV) is planning to run a detailed, high resolution, airborne electromagnetic survey or AEM to explore for additional copper-cobalt resources in the Mutooroo copper-cobalt district, located in New South Wales, eastern Australia. The survey is planned to commence in mid-April and it is expected to take at least three weeks to complete. […]

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Chile’s Supreme Court revokes ruling permanently closing Barrick’s Pascua-Lama mine

Chile’s Supreme Court has ruled in favour of Barrick Gold (TSX:ABX) (NYSE:GOLD), revoking the permanent closure of the Canadian miner’s Pascua-Lama gold-silver project. The world’s largest gold miner, which completed its merger with Randgold at the beginning of the year, said the March 14 ruling overturned the Antofagasta Environmental Court’s order, issued late last year, and it also ordered to re-evaluate the […]