Kinross Gold considers selling American mine
According to The Globe and Mail, citing three people familiar with the matter, Canadian mining company Kinross Gold is considering selling its gold mines in North and South America and moving its main stock listing location to London to increase the company's value. In addition, the company is also considering doubling its investment in assets in Russia and West Africa. Kinross Gold is one of the top ten gold producers in the world. It has four gold mines in the Americas, namely Round Mountain and Bald Mountain gold mines in Nevada, USA, Fort Knox gold mine in Alaska, and Paracatu, the largest gold mine in Brazil.
OceanaGold raises US$150 million through acquisition
Multinational gold producer OceanaGold Corp. said on Monday that the company has raised $150.4 million in financing through purchase transactions, including 73 million shares of common stock at a price of $2.06 per share. The net proceeds from the issuance will provide funding for organic growth projects, including the underground development project of the Haile Mine in South Carolina, the continued exploration and development of mineral resources in New Zealand, as well as working capital and general corporate purposes.
Lundin Mining will suspend operations at Chile's Candelaria copper mine
Canada’s Lundin Mining will suspend operations at Chile’s Candelaria copper mine after the company failed to reach an agreement with a union representing about 550 workers, who will start a strike on October 20. Lunding Mining also stated that it has withdrawn its guidance on production, cash costs and capital costs for the mine in 2020. The copper output of Candelaria mine in 2019 was 111,400 tons, and its output has reached 74,200 tons as of August this year.
Nickel Mines will acquire a stake in a nickel company in Indonesia
Nickel Mines, an Australian nickel miner, said that it will acquire Indonesian nickel company PT Angel Nickel Industry (ANI) with a USD 490 million agreement and that it will strive to double its nickel production within two years. Nickel Mines will acquire the aforementioned shares from a subsidiary of Tsingshan Group, and will build four rotary kiln electric furnace production lines in the Vidalbe Industrial Park on Hamahera Island, North Maluku, Indonesia.
Norilsk Nickel Company Announces Third Quarter Results
Norilsk Nickel reported that the company’s nickel production in the third quarter of this year was 60,165 tons, an increase from 57,266 tons in the same period last year. Palladium production jumped from 720,000 ounces in the same period last year to 783,000 ounces, platinum production climbed from 164,000 ounces to 190,000 ounces, and copper production fell from 120,667 tons to 118,674 tons. Norilsk Nickel said that the company has made significant progress in cleaning up the disastrous oil spill in the Russian Arctic. It has now completed the collection of contaminated soil around the accident area and has begun to restore damaged land and vegetation.
ICSG expects a global shortage of 52,000 tons of refined copper this year
The International Copper Research Group (ICSG) said on Monday that the global refined copper production growth rate is expected to be 1.6% in 2020 and 2021, with a global refined copper shortage of 52,000 tons this year and a surplus of 69,000 tons in 2021. In terms of demand, the global demand for refined copper remains basically unchanged this year (+0.2%), while the growth rate of global refined copper demand in 2021 is 1.1%. Affected by the epidemic, ICSG expects global refined copper demand excluding China to fall by 9% this year. In terms of mineral copper, ICSG expects this year's global output to be 20.223 million tons, down 1.5% year-on-year; in 2021, the output will be 21.151 million tons, up 4.6% year-on-year.
Endeavor Mining restarts operations at Boungou Mine
Canadian mining company Endeavor Mining announced that its Boungou mine in Burkina Faso has successfully restarted its mining operations after West African mining contractors entered the site and completed infrastructure and operational improvements. As part of the restart plan, Endeavor Mining worked closely with the Burkina Faso government to implement a comprehensive safety plan. The Burkina Faso government has also established a special team responsible for ensuring the overall safety of the Boungou mine and the area with Endeavor Mining.
Largo Resources' quarterly output hits a record high
Largo Resources reported on Monday that the output of vanadium pentoxide in the third quarter of 2020 was 3,092 tons, an increase of 5% from the third quarter of 2019, while also setting a new quarterly production record. Since commercial independence, Largo Resources' total sales in August and September have exceeded production levels. By taking advantage of higher prices and greater overall demand, Largo Resources increased its sales in China this quarter.
Mongolia is expected to export 1.4 million tons of copper concentrate next year
The Ministry of Finance of Mongolia has submitted the draft budget for 2021 to the parliament. It is estimated that the revenue of the mining industry will reach 1.19 billion US dollars for the first time in 2021, accounting for about 26% of the total budget revenue. Among them, coal export volume was 42 million tons, creating about 455 million U.S. dollars in revenue; copper concentrate export volume was 1.4 million tons, creating about 525 million U.S. dollars in revenue.
Algeria Mining Minister: The country is determined to resume mining activities
Algerian Mining Minister Mohamed Aqab recently stated that the country is determined to resume mining activities. Mohamed Aqab clearly pointed out that the state has prepared necessary measures and financial resources to revitalize the country’s mining industry and raw material production, and will spare no effort to resume this activity and reduce import costs.
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PUDA is specialized in automatic quantitative packaging machine for powder, granule, particle, pelleted, sliced, flaked, bulk materials.
Qinhuangdao Puda Electronic Co., Ltd , which provides automatic intelligent packaging solutions, is an automatic equipment manufacturing enterprise integrating R&D, manufacturing and sales of equipment. With a high-tech team engaged in the research and development and manufacturing of automation equipment, adhering to the concept of knowledgeable and dense, sincere service, from design and development, production and manufacturing to after-sales service, to professional technology, first-class quality service in all industries; Up to now, the strength and product quality of the company have been highly recognized by the industry. Welcome friends from all walks of life to visit, guidance and business negotiations.
