Global copper production capacity at mine level through 2019 is expected to grow at a robust average annual rate of 4% to reach 26.5 million tonnes (mt) a year in 2019, according to a new report by the International Copper Study Group. In its bi-annual directory of copper mines and plants, the Lisbon-based research group said the estimated 2019 annual production represents an increase of more than 3.9mt or 17% compared to the 2015 total. According to the study concentrate output will represent m
Global mining and metals mergers and acquisitions (M&A) continued to accelerate in the second quarter of the year as figures released from EY revealed on Thursday. Total global M&A value amounted to $7.8bn in the second quarter, up from $4.1bn in the first quarter of the year and indicates confidence may be returning to the sector after the blow out in 2015. Deal volume also increased 27% quarter-over-quarter with 104 deals recorded compared to 82 in the preceding three months. “There i
U.S. and British health officials have created a new alliance with a budget of hundreds of millions of dollars to accelerate the development of new antibiotics and tackle the growing problem of drug resistance. The new group known as Carb-X, short for Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator, brings together government, academia and industry to speed up work on new treatments and diagnostics. The U.S. Department of Health and Human Services said on Thursday it would provide $3
The World Bank's issued its latest set of forecasts for crude oilprices but interpreting the numbers may depend on your disposition. The good news: The World Bank has raised crude oil's price forecast this year to $43 a barrel from $41 a barrel in its April assessment. The bad news: Prices are still expected to end the year lower compared with current levels. The institution noted oil prices jumped over a third in the second quarter due to supply outages and strong demand, so a fall i
Canada’s largest diversified miner, Teck Resources (TSX:TCK.B) (NYSE:TCK), reported second quarter results on Thursday that beat estimates, but only just. The Vancouver-based company posted earnings of $0.01 a share, or $3 million profit. Revenue also came in higher than expected at $1.74 billion, beating forecasts of $1.33 billion. Analysts had predicted losses of $0.01 a share. The stock was up more than 5% in New York in lunchtime trade for a market worth of $8.75 billion. Year t
Shanghai Fosun Pharmaceutical (Group) Co. Ltd, the Hong Kong-listed company controlled by billionaire Guo Guangchang, will acquire 96% stake in India’s Gland Pharma Ltd for $1.3-1.5 billion (Rs.8,700-10,000 crore), according to two persons in the know. The Hyderabad-based Gland Pharma is backed by global private equity firm KKR & Co. The deal will be announced in a day, said the first person close to the development. Established in 1978, Gland Pharma develops and manufactures generic injectables
The Canadian province of Quebec will spend $133 million (Cdn$175 million) in an iron ore project majority owned by Tata Steel Minerals Canada (TSMC), a subsidiary of Indian giant Tata... Full Story
is pleased to announce that the Peruvian Water Authority (ANA) has officially approved the water usage permit for Dynacor's Veta Dorada 300-tpd ore processing plant in Chala (Peru). ... Full Story
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