Swiss-based Glencore has invested $589 million into the expansion of the Ernest Henry Mine in Queensland. The investment aims to increase production and extend the life of the mine by transitioning the copper site from an open-pit to underground shaft mine.
Mining has always been a male dominated industry. The appeal of digging giant holes in the ground with loud and heavy equipment has always attracted an overwhelming majority of male occupants. The number of female occupants, however, is not so much.
ASX-listed Lucapa Diamond Company has announced a two-year plan to construct an Angolan mine that many expect will replace the country’s largest diamond mine, Catoca.
The Lulo deposit, which is 700 kilometers east of Luanda, has potential to knock Catoca out of the top spot for volume of carats extracted. Stones from the deposit are fetching $6,533 a carat compared to the Catoca deposit, which only bring in $100 per carat.
#10 –Beny Steinmetz - $3.5 million
Beny Steinmetz is an Israeli businessman who has earned his wealth through mining, diamonds, and real estate. The billionaire, who inherited the Geneva-based Steinmetz Diamond Group from his father, has gone on to form the Beny Steinmetz Group Resources (BSGR), and recently acquired one of the world’s largest untapped iron ore deposits in Simandou.
Available through the Komtasu Australia website, the new app gives miners instant access to vital information on KOMTRAX equipped Komatsu machinery. With the touch of a button the app provides users with real-time updates on equipment fuel consumption, machine productivity, maintenance updates, and GPS location.
The cold hard truth is community relationships matter. The ability to sustain rapport with surrounding areas can almost guarantee the success a mine site, and company, will have. Things like worker strikes and protests have shown the effects bad relationships can have on mining companies – and it’s not cheap.
US miner Freeport-McMoRan Copper & Gold Inc. has agreed on a Memorandum of Understanding (MoU) with the Indonesian government over its contract renegotiations, a major step in resuming copper exports from the country.
The age of technology has finally arrived in the mining sector. Companies are beginning to embrace new technological advancements, implementing a wide range of initiatives into their operations to increase productivity, reduce costs, and enhance overall safety performance. One of the major driving forces in boosting productivity has become automation.
South African miner Anglogold Ashanti has announced the appointment of new chief financial officer Christine Ramon.
She will replace Richard Duffy, who is stepping down from both the Board and Executive Committee, as both CFO and Executive Director of the Board effective October 1.