ISLAMABAD: Barrick Gold Corporation Chief Executive Officer Mark Bristow has said the company will invest approximately $7 billion in Reko Diq mines for developing gold and copper in two phases and start production by 2027. During a visit to Islamabad, Mark Bristow held a meeting Finance Minister Miftah Ismail and discussed the project. The finance … Read more
Junior miners are encouraged by the Canadian government’s plan, to allocate C$4 billion to critical minerals. Critical minerals such as cobalt, lithium, nickel, and copper are key to achieving the transition away from carbon-based energy. So far this year, mining companies listed in Canada have raised C$3.1 billion. Overall raising of funds has dropped by … Read more
Chilean state-owned copper miner Codelco sees firm copper prices ahead despite recent falls. Comments come as copper prices posted their biggest weekly fall in a year. Pacheco said the annual production goal would be maintained at 1.7 million tonnes while he was in charge, including for this year. Chilean state-claimed copper digger Codelco, the world’s … Read more
Copper-rich President Hakainde Hichilema stated on Monday that Zambia wants to more than increase mineral production to three million tones per year within a decade. Hichilema took office last year with ambitious plans to review mining policies and turn around the economy of the Africa’s second largest copper producer. He told an annual Africa mining … Read more
BEIJING: Continuing geopolitical tensions like those involving Russia and Ukraine have further tightened global energy supplies and are expected to push commodity prices higher, which will make the ongoing fragile global economic recovery more challenging, analysts said. Any escalation in hostilities will likely pose a significant risk to commodity exports and supplies and further inflate … Read more
RIYADH: Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has said that transparency is the key to attracting investment in the kingdom’s mining sector, Arab News reported. Speaking at a post-budget forum in Riyadh, Alkhorayef said Saudi Arabia is committed to the environmental, social, and governance concepts in all sectors, including mining. He said mining is … Read more
LONDON: A key index tracking the prices of industrial metals, including aluminium, copper and zinc, has struck record heights as soaring energy prices reduces their production. The London Metal Exchange Index reached an all-time peak at 4,623.4 points. It represents a 35-per cent jump for the LME index since the start of the year, while … Read more
