Mexico may not be breaking records at London’s Olympic Games, but back home it is scoring big. On Monday, the Mexican Chamber of Mining announced the country hit a new record in gold production in 2011.
Barrick Gold, the world’s largest producer of the precious metal, said it would continue to pursue acquisition opportunities despite the full review of its operations.
Xstrata has approved a $360 million expansion for its McArthur River mine in Australia’s Northern Territory which will make the project the largest producer of zinc in the world.
AngloGold Ashanti's, the world’s third-largest gold producer, reported that profits from its Latin American operations dropped 52% from $92 million to $48 in the second quarter of this year.
The board of Codelco has authorized its chief executive, Thomas Keller, to go ahead with feasibility studies to turn its subsidiary Gabriela Mistral into a new business division.
The global miner joined the ‘disappointing results club’ this morning as the London-listed mining group reported that its first-half operating profit dropped almost 40%.
A deal between Rio Tinto and Toronto-based jeweller Harry Winston Diamond, which is looking to become the sole owner of the Diavik Mine, might be around the corner.
While the Australian government has started allowing miners to hire foreign workers to ease a labour shortage in the country, some companies such as BHP Billiton and Rio Tinto have chosen to launch their own recruitment initiatives.
