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A shrewd tweak of its business plan last year saw China Hongqiao Group, the country’s leading privately-owned integrated aluminum producer, double the share that sales of alumina enjoyed in its overall business, the Shandong-headquartered company’s latest annual report shows.
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Jiangxi Copper, one of China’s leading copper smelters and headquartered in Southeast China’s Jiangxi province, plans to spend nearly Yuan 3 billion ($447.4 million) to acquire a 29.99% interest in China’s leading gold producer, Shandong Humon Smelting Co, to further expand its gold business, according to Jiangxi Copper’s latest announcement on March 5. Shandong Humon is based in Yantai city in East China’s Shandong province.
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Mines in North China, especially those producing non-ferrous metals, are bracing for disruptions to their operations fearing central and local government authorities will respond with vigour to last Saturday morning’s horrific accident in an underground silver mine in Xilin Gol League in North China’s Inner Mongolia.
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Hongkong-listed Zijin Mining Group, also a top gold and copper miner in China, will fully acquire Canada’s Nevsun Resource, a prospective nonferrous mining company with copper, zinc and gold resources in Africa and Serbia of Europe, at a cost of $1.39 billion, all in cash payment, according to a Zijin announcement on September 6.
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London-based global miner Rio Tinto confirmed on May 23 that it was in discussions to unwind its entire 40% interest in the Grasberg copper and gold mine in Indonesia for $3.5 billion.
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Six died and two were injured at a tunnel collapse at the US gold miner Newmont's Ahafo Mill expansion project in Ghana, West Africa, on April 7, according to a company notice.
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Australian gold miner Newcrest Mining will restart mining operations at Cadia East in New South Wales on March 27 after a 17-day halt following the tailing dam failure on March 9, the company disclosed.
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The Oyu Tolgoi mine in South Mongolia, which is majority held by Rio Tinto via Turquoise Hill, targets to produce 125,000-155,000 tonnes of copper and 240,000-280,000 ounces of gold, both in concentrates, in 2018, according to Turquoise Hill's fourth quarter report released on March 15.
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Zijin Mining Group, China's top nonferrous metals producer and refiner, expressed interest in investing in Rudarsko-topioni？arski Basen Bor (RTB Bor), a copper mining and smelting company, during a meeting which a visiting Zijin delegation had with Serbian President Aleksandar Vucin recently, according to a post on the Serbian Foreign Affairs Ministry website on March 13.
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Indonesian miner PT ANTAM (Persero) Tbk, is raising its annual production and sales targets for its main commodities, including ferronickel, gold, nickel ore and bauxite ore, for 2018, to improve its operational performance and maintain competitive cash cost, according to a recent company release on March 7.
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Newcrest Mining Ltd halted operations at its Cadia mine in New South Wales following a "breakthrough of tailings material at its northern tailings dam embankment", the miner announced on March 10. The breach occurred on last Friday, it noted.
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China's gold producers should be joining the other Chinese companies in actively exploring overseas investment opportunities in the countries under the "Belt and Road Initiative (BRI)", Song Xin, chairman of the China National Gold Group was reported saying in a group discussion when attending National People's Congress (NPC) meeting in Beijing.
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Vale implemented its business strategy for a "smaller footprint" in both nickel and copper in 2017 by reducing the output in these two metals, according to its latest quarterly report released on February 16.
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Both China's consumption and production of gold continued to top the world in 2017, according to the latest statistics from the China Gold Association (CGA) on February 1.
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Global gold price may climb up further in 2018 thanks to the expected increase in demand both for investment as well as for consumer products such as jewelry, market sources shared recently.
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Huludao Hongyue North Copper Co in Northeast China's Liaoning province, has just commissioned its 150,000 tonnes/year electrolytic copper refinery, an official from MCC Huludao Nonferrous Metals Group, Hongyue's sister company confirmed on December 7.
