Category: Mining Companies

In 2014 Anglo American embarked on an ambitious plan called FutureSmart Mining to overhaul its mining operations using the latest and best technologies to deliver improved efficiencies, better safety performance and cleaner mining. That programme was expanded over the years, and the report card shows a $2 billion annual value haul, which the group expects to increase to $3 billion by 2022. Speaking to analysts on Tuesday, group technical director Tony O’Neill detailed an extensive list of technologies and productivity improvements that not only reflects in bottom-line performance but brings… Read More Here

Investors are undermining the gold industry’s ability to grow by demanding a bigger share of profits from high bullion prices, according to the CEO of the world’s second-largest producer. “Fund managers just bash the table and want money — they’re not interested in this industry reinforcing its foundations,” Barrick Gold Chief Executive Officer Mark Bristow said in an interview Wednesday. “Then they turn around and get hysterical when a host country demands returns.” While Toronto-based Barrick is returning a sizable chunk of earnings and divestment proceeds to shareholders, Bristow urged… Read More Here

Diversified miner Glencore’s overall production for the first quarter was broadly in line with the company’s expectations, with production reflecting that many of its operations continue to maintain thorough Covid-19 safe working practices. Full-year production guidance, however, has been maintained for Glencore’s key commodities, while full-year earnings before interest and taxes are expected to be within the top half of the miner’s long-term guidance range of between $2.2-billion and $3.2-billion. Glencore’s own-sourced copper production of 301 200 t was 3% higher year-on-year, mainly as a result of productivity improvements and mine… Read More Here