Leading Developments

Glencore Xstrata sold its entire interest in the Las Bambas copper mine project to a consortium owned 62.5% by MMG Ltd., 22.5% by Guoxin International Investment Corp. Ltd. and 15% by CITIC Metal...

Latin America

Africa

Strikes at the platinum mines of Anglo American Platinum, Impala Platinum, and Lonmin in South Africa, initiated by the Association of Mineworkers and Construction Union (AMCU) on January 23,...
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Asia

Centerra Gold has completed a preliminary economic assessment (PEA) of its 100% owned Öksüt project in south-central Turkey. The PEA envisions a conventional open-pit and heap leach facility with an...
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US & Canada

Detour Gold has announced an updated life-of-mine plan for its 100% owned Detour Lake open-pit mine in northeastern Ontario. The mine poured its first gold in February 2013 and reached commercial...
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Brazil Imposes New Mining Tax


Brazil's largest mining state, Minas Gerais, imposed a new tax of 2.18 reals ($1.17) per metric on iron ore and other mined ores. For iron ore, it amounts to about 1% of the current price for prompt delivery. It was the second tax levied on the mining industry by a regional government in December. Brazil's Para state, home to of Vale’s Carajas system, imposed a tax of 6.45 reals on iron ore. Legislators in Minas Gerais justified the tax, according to Latinominería, claiming that mining companies should contribute more to the cost of policing their operations.According to Reuters, Vale said the tax was illegal and said it was seeking to contest it.

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