Anglo American appoints takeovers expert as new chairman

Anglo American (LON:AAL), the world’s fifth largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group. Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November. Stuart Chambers is known for his active participation in the sale of several[…]

Here's why the iron ore price is tanking

The destruction of iron ore and coking coal prices in the past week has been brutal. Northern China 62% Fe import prices are down more than 12% since last Friday after losing another $4 on Friday to below $60 a tonne. Measured from its February peak, the steelmaking raw material is down a stomach-churning 37%.[…]

South32 buys stake in Canada’s Arizona Mining for $81 million

Australia’s South32 (ASX, LON, JSE:S32) is investing some of its $1.5 billion of cash in a minority stake in Canada-listed Arizona Mining (TSX:AZ), which plans to develop a zinc-lead-silver project in Arizona. Deal comes only two weeks after South32 walked away from a $200 million planned acquisition of Peabody Energy’s coal mine in New South Wales. As part of[…]

BHP puts US shale assets back on the block amid investors pressure

Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) is once mulling the future of its US-based Fayetteville shale gas assets to focus on more lucrative opportunities in oil, but said decision was not related to activist investor Elliott Management’s call earlier this month for an overhaul of the firm. The company, which last year logged its largest-ever[…]

Top 50 biggest mining companies

Less red ink more blue sky MINING.com and sister company IntelligenceMine‘s ranking of the world’s 50 largest mining companies based on market value continues to show an industry in recovery. At the end of the first quarter this year the top 50 companies had a combined worth of $842 billion. In total these companies’ added $258[…]

Mining industry leaders meet again at PDAC 2017

The Prospectors & Developers Association of Canada’s (PDAC) International Convention, one of the world’s leading minerals and mining events, kicked off Sunday amid increased optimism in the global industry. Now in its 85th year, this annual event brings together the industry from around the world to downtown Toronto. More than 22,000 attendees from 125 countries were[…]

Rio Tinto defers former CEO Walsh bonus over Guinea scandal

Rio Tinto’s (ASX, LON:RIO) former chief executive Sam Walsh has had part of his retirement payout withheld while the group waits for the results of ongoing investigations into payments made to a consultant to gain access to the Simandou iron ore project in Guinea, Africa. The decision, announced as part of the world’s second biggest miner’s[…]

Human activity creates 208 new mineral species

Nealite [Pb4Fe(AsO3)2Cl4·2H2O] From an ancient slag site in Greece, formed by slag meeting seawater. Credit RRUFF. For the first time more than 200 mineral species has been identified that originated either principally or exclusively due to human activities – primarily as a result of mining. The study led by Robert Hazen of the Carnegie Institution[…]

Canada’s Saskatchewan and Manitoba are the world's new top mining destinations

Two Canadian provinces — Saskatchewan and Manitoba — are the world’s top two most attractive mining investment destinations, displacing Western Australia from the first to the third place, the latest annual global survey of mining executives released Tuesday by the Fraser Institute shows. According to Canada’s policy think-tank’s Annual Survey of Mining Companies, the other seven jurisdictions that currently[…]