Former Xstrata CEO Mick Davis may become Rio Tinto new chairman

Former Xstrata chief executive Mick Davis, the current leader of Britain’s ruling Conservative Party, is said to be the frontrunner to become Rio Tinto’s new chairman. People familiar with the matter told Sky News the South African-born businessman has held talks with Rio over the position held until the end of the year by retiring chairman Jan[…]

Canadian junior miners worth jumps for second year in a row

The rising number of exploration projects, equity and debt financings, as well as mergers and acquisitions, indicates a renewed confidence in the junior sector. (Image: Pure Gold Mining’s Madsen gold project in Ontario’s Red Lake gold camp.) After years of struggling following a drop in commodity prices, Canadian junior miners are seeing renewed confidence in[…]

UNEP urges mining companies to better manage tailings facilities

The United Nations Environmental Programme released a report titled “Mine tailings storage: safety is no accident,” where the organization urges mining companies to put safety first and avoid erecting dams using methods that are known to be high risk. “The United Nations Environment Rapid Response Assessment on mine tailings looks at why existing engineering and[…]

Rio Tinto back on track to haul iron ore in driverless trains in 2018

Rio Tinto (ASX, LON:RIO), the world No.2 iron ore miner, is closer than ever to having a network of driverless trains in Western Australia as it has completed its first long-haul journey with a completely autonomous locomotive. The milestone trip, spanning nearly 100 km (60 miles) with trains operated by individuals in an air-conditioned control room[…]

Botswana Diamonds soars on promising find at South African project

Shares in London-listed Botswana Diamonds (LON:BOD) received a fresh shot in the arm on Friday after the miner said that sampling work at its Ontevreden licence in South Africa seems to prove the presence of high-grade kimberlite pipes. The discoveries at the site, which Botswana Diamonds operates in a joint venture with Vutomi Mining, follow detailed[…]

China iron ore makes biggest monthly drop since May 2016 as demand concerns rise

China iron ore futures made their biggest monthly decline since May 2016 amid increasing concerns about demand as government inspections have curtailed steel production and ample inventories. The Dalian Commodity Exchange’s most-traded iron ore contract, for January delivery, closed down 0.98 percent at 454.5 yuan ($68.45) per tonne. This means the contract has fallen 19[…]

Iron ore nears $80 a tonne

Iron ore prices held steady above $79 per tonne on Tuesday on the back of a strengthening billet market a day earlier, when Chinese steelmakers began stoking production ahead of mandated cuts going into winter. Iron ore is trading higher now than at the beginning of the year. Ore with 62% content in Qingdao traded at $79.65 per[…]