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Category: International

Barrick Collaborates with Dominican Authorities for Storm-Affected Communities 1 International Corporate social responsibility Gold 

Barrick Collaborates with Dominican Authorities for Storm-Affected Communities

Constance
The Barrick-operated Pueblo Viejo gold mine is supporting communities in the Sanchez Ramirez province in the Dominican Republic in the wake of a tropical storm which was in excess of a 1 in 500-year event.  Nearly 500mm of rainfall was recorded within a 24-hour period, causing significant flooding, bridge destruction and road blockages.  Operations at Pueblo Viejo were suspended for 72 hours from November 17th, when the storm made landfall. No significant damage to the plant’s infrastructure was reported and processing operations have resumed. No injuries on the mine were… Read More Here
Barrick Supports Consolidated Standard for Responsible Mining 2 Gold International 

Barrick Supports Consolidated Standard for Responsible Mining

Constance
The Copper Mark, Mining Association of Canada, ICMM and the World Gold Council has announced their intention to work together to consolidate their respective responsible mining standards into one single standard. Barrick supports this initiative and has been an advocate of this consolidation for many years. “Having one standard for responsible mining will not only provide clear direction on what good should look like but would reduce the complexity that exists with the numerous standards currently in circulation,” said Barrick president and chief executive Mark Bristow. “It is also crucial… Read More Here
FQM Seeks Government Clarity Regarding Cobre Panama Workers' Future 3 International Copper 

FQM Seeks Government Clarity Regarding Cobre Panama Workers’ Future

Constance
Following the publication, in the December 2 Official Gazette, of a Supreme Court ruling regarding the unconstitutionality of First Quantum Minerals’ contract for its Cobre Panamá copper mine in the Central American country, the miner issued a communiqué informing employees that it is uncertain how many people will be able to continue working at the operation. “Until the government sets up a clear roadmap, we cannot determine how many of our collaborators will continue working at the company in care and maintenance tasks (non-operational), a key factor to avoid future… Read More Here
FQM CEO Expresses Concerns Over Sustainability if Panama Operations Cease 4 International Copper Mining Personality 

FQM CEO Expresses Concerns Over Sustainability if Panama Operations Cease

Constance
The chief executive of Canadian miner First Quantum said he would have to look into how the company could sustain its finances in the long term, given Panama’s push to annul operations at its local copper mine, the miner’s biggest revenue source. “We have strong finances in the short and medium term, but yes, we have to see how we sustain them in the long term,” Tristan Pascall said in an interview with Panamanian newspaper La Prensa published on Friday December 1st, when asked about the risk of bankruptcy for… Read More Here
Zimbabwe Sets Deadline for Local Lithium Production Plans 5 International Battery Metals Lithium 

Zimbabwe Sets Deadline for Local Lithium Production Plans

Constance
Zimbabwe has issued a directive for lithium miners to submit plans for the in-country production of battery-grade lithium by March 2024, aiming to tap into the increasing demand for this vital mineral in the clean energy sector, announced Finance Minister Mthuli Ncube last week. In a bid to retain control over lithium resources, the country, Africa’s leading lithium producer, imposed a ban on lithium ore exports last year and introduced a 5% export tax on concentrates. Lithium, essential for electric vehicle batteries and renewable energy storage, has emerged as Zimbabwe’s… Read More Here
Presidents Biden and Lourenço Strengthen US-Angola Ties 6 International Transport and Logistics 

Presidents Biden and Lourenço Strengthen US-Angola Ties

Constance
President Joseph R. Biden, Jr. convened with President João Manuel Gonçalves Lourenço of Angola at the White House to explore avenues for bolstering their relationship, identifying future collaborative prospects, and addressing global challenges. Their discussions centered on substantial U.S. economic investments in Angola, notably through the President’s flagship Partnership for Global Infrastructure and Investment (PGI) in the Lobito Corridor, amounting to over a billion dollars in U.S. financing committed in the current year. These investments encompass various initiatives, such as backing for more than 180 rural bridges, enhancing digital connectivity… Read More Here
Porto do Lobito Union Celebrates Enhanced Working Conditions and Worker Reintegration 7 International Transport and Logistics 

Porto do Lobito Union Celebrates Enhanced Working Conditions and Worker Reintegration

Constance
The Trade Union Committee of Porto do Lobito expressed appreciation for the improvements in working conditions within the company. During the Workers’ Assembly at Casa do Pessoal do Porto do Lobito, marking its formalization’s first anniversary, Ernesto Muabi António, the Union Commission’s first secretary, highlighted the historical reintegration of some previously dismissed workers as a positive example. “While we continue addressing concerns among our associates regarding the company’s social fund, productivity bonus, professional qualifications, and more, we’re actively collaborating with the Administration to resolve these issues,” stated Ernesto. Responding to… Read More Here
Global Uranium Prices Hit 15-Year High, Surpassing $80 USD per Pound Milestone 8 International 

Global Uranium Prices Hit 15-Year High, Surpassing $80 USD per Pound Milestone

Constance
Uranium prices have exceeded the US$80 per pound mark for the first time in more than 15 years. On the American stock exchange Nymex, futures contracts for yellowcake, a crude form of uranium, exceeded $80.25 on Monday, November 20, 2023. According to certain specialists, this historic peak comes after months of rising fuel prices, in a global context marked by the return to favor of nuclear power. Supply contracts with utilities responsible for purchasing uranium for nuclear power plants continue to intensify, according to Colin Hamilton, director of commodities research… Read More Here
Rio Tinto Chief to join IGO board 9 International Mining Personality 

Rio Tinto Chief to join IGO board

Constance
Ivan Vella, former chief executive aluminium at Rio Tinto, will join the IGO leadership team as managing director and chief executive officer. Vella stepped down from his position at Rio in June, but remained with the company throughout the transition process. However, Vella’s contract with Rio was terminated on November 15. In a statement, Rio said the termination was due to the “failing to follow guidance on acceptable management of confidential information”. IGO spoke with both Vella and Rio Tinto about the termination, and has confirmed Vella’s future role with… Read More Here
FQM Mine Faces Shutdown in Panama After Ruling, Confirms President 10 International Copper 

FQM Mine Faces Shutdown in Panama After Ruling, Confirms President

Constance
Panama’s government said it will shut a $10 billion copper mine owned by First Quantum Minerals Ltd., damping hopes that the company might reach a new deal to keep operating after a supreme court ruling against it. Authorities will start “the transition process for the orderly and safe closure of the mine,” President Laurentino Cortizo said in a post on X Tuesday. He didn’t say how long the process might take. Production had already been halted after protesters blocked supplies from reaching the mine. The announcement caps a dramatic six… Read More Here

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