Encore peu médiatisée, l’extraordinaire découverte de Thomas Pesquet lors de sa deuxième sortie dans l’espace bouleverse nos connaissances en biologie : de minuscules animaux sont restés vivants dans le vide spatial, bien calés dans un recoin de l'ISS. Installés là depuis longtemps, ces...
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vendredi 31 mars 2017
Europe's last tin mine big step closer to restart
Canadian junior Strongbow Exploration Inc (CVE:SBW) announced Friday it has successfully completed water treatment trials at the South Crofty tin mine in Cornwall and is now working on an application to the UK Environment Agency for a mine waste permit.
Strongbow says the application was expected to be filed within one month and permits could be issued before the end of the summer. The Vancouver-based company in a statement said once it receives a mine waste permit with water discharge consent, South Crofty will be fully permitted.
South Crofty, approximately 390km drive west of London on the Celtic Sea Coast, was the last tin mine in Europe when it closed in 1998. Several companies attempted to revive the flooded mines between 2001 and 2013 but due to poor market conditions the assets were put into administration in 2013.
Strongbow paid in the order of US$2m for 100% of the mining permission area which includes 26 former producing mines. Strongbow filed a National Instrument 43-101 technical report in June last year detailing indicated mineral resources of 1.9 million tonnes grading 1.7% Sn equivalent and 1.2 million tonnes inferred grading at 1.52%.
Existing mine infrastructure that is potentially useable includes 4 vertical shafts with a combined depth of 2,940m. According to Strongbow capital expenditure to restart mining would be minimum US$100 million. Near surface copper mineralization exists at the site, but Strongbow is focusing on tin-only mineralization that occurs from a depth of 400 meters.
Strongbow also owns tin properties in Alaska and base and precious metal projects in Canada. The little traded company is worth $8.4 million on the TSX Venture Exchange after surging 11% on Friday.
The tin price has rallied to above $20,000 a tonne currently from multi-year lows of $13,200 a tonne hit mid-January last year. The metal reached a record high of $33,600 at the height of the mining boom in 2011.
Nearly 10 million tonnes at an average grade of 1.00% tin were mined at South Crofty between 1906 and 1998. Mining in the area dates back to the Bronze age, flourished during Roman times and reached a peak in the latter half of the 1800s when Cornwall accounted for nearly half the global trade in tin.
Robinson's Shaft, South Crofty Mine. Image: Chris Allen CC
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Sondes spatiales : comment elles sont pilotées
Les engins spatiaux, en orbite autour de la Terre ou bien partis explorer d’autres planètes, doivent avoir une certaine autonomie de décision. Il ne s’agit pas encore d’intelligence artificielle mais pas loin. Pour les contrôler, il existe des « systèmes d’exploitation temps réel », ou RTOS....
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Avec Neuralink, Elon Musk veut relier nos cerveaux à des machines
Elon Musk, le patron de Tesla et SpaceX, vient de lancer une nouvelle entreprise baptisée Neuralink. Son ambition : créer une interface neuronale qui puisse, dans un premier temps, soigner des maladies telles que l’épilepsie et qui, à terme, permettrait au cerveau de communiquer directement avec...
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Des têtards recouvrent la vue grâce à des yeux greffés sur leur queue
Des têtards ont appris à voir avec de nouveaux yeux greffés sur leur queue. Ces organes étaient connectés à la moelle épinière ; un médicament contre la migraine, le zolmitriptan, a favorisé de nouvelles connexions nerveuses.
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Freeport’s Cerro Verde copper mine resumes normal operations
Around 1,300 unionized employees at Freeport-McMoRan's (NYSE:FCX) Cerro Verde copper mine in Peru went back to work on Friday, effectively putting and end to a 18-day strike that halved the mine’s output.
The workers, who went on strike on March 10 demanding special benefit payments to protect their incomes against a downturn in the metal prices, as well as better working conditions, signed an agreement Thursday, local paper Gestión reports (in Spanish).
As part of the settlement, the union accepted the company's offer to improve family health care benefits and pay workers their portion of the mine's profits earlier than usual, the article says.
The news follows the end of a historically long 43-day strike at BHP Billiton’s Escondida, the world's biggest copper mine in neighbouring Chile.
Cerro Verde, controlled by Freeport-McMoRan with a 53.6% stake, Sumitomo Metal (21%) and Buenaventura (19.6%), produced just under 500,000 tonnes of the red metal last year, making it Peru's top copper mine.
Peru is the world’s No.2 copper producer and mining accounts for about 60% of its export earnings.
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Sea Bubbles : premier essai en mer réussi pour ces bateaux « volants »
Un prototype des bateaux électriques « volants » Sea Bubbles a effectué sa première sortie en mer. Imaginé par le Français Alain Thébault, ce moyen de transport inédit ambitionne de proposer une alternative écologique pour désengorger les grandes métropoles traversées par des fleuves,...
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Vedanta CEO Tom Albanese to leave company in August
Vedanta Resources’ (LON:VED) chief executive Tom Albanese is leaving the Indian mining conglomerate in August and return to the US in a personal move aimed at spending more time with his family.
Albanese's departure comes on the heels of former Anglo American CEO Cynthia Carroll's exit, who left Vedanta last month.
The company’s executive chairman, Indian billionaire Anil Agarwal, would be leading the succession process to identify candidates to replace Albanese, whose contract has been extended by five months until the end of August, Vedanta said in a statement.
Albanese, 59, has been at the helm of Vedanta since 2014. Before that, he held the top position at Rio Tinto (LON:RIO), the world’s No.2 mining company.
The news of his departure comes as Vedanta’s founder Agarwal seeks to expand the firm’s reach along with his network of resources companies, including the $19 billion Hindustan Zinc Ltd.
It also follows the announcement of the departure of former Anglo American CEO Cynthia Carroll from the firm’s board last month.
Earlier this month, Agarwal's family trust —Volcan Investments— announced it would invest $2.4 billion in Anglo American (LON:AAL), gaining a 12% stake in the firm and making the buyer Anglo’s second-biggest investor.
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Géoingénierie : un test pour refroidir la Terre est à l'étude
Des chercheurs de l'université de Harvard espèrent tester dans la stratosphère une expérience de géoingénierie. L'idée est de valider cette possibilité de refroidir l'atmosphère si, un jour prochain, cette voie devenait nécessaire, et ce sans faire courir de risque au climat, à la couche d'ozone...
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Un nouveau robot pour l'exploration des grands fonds marins
L'Ifremer (Institut français de recherche pour l'exploitation de la mer) a dévoilé son prochain submersible d'exploration sous-marine. Largement autonome, il plongera jusqu'à 6.000 m, embarquant de nombreux instruments de mesure et saura aussi surveiller les pipelines.
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Avec son Falcon 9, SpaceX ouvre un nouveau chapitre de l'histoire des lanceurs
Seulement trois ans après sa première mission commerciale, le lanceur Falcon 9 entre de nouveau dans l’histoire. Il est aujourd’hui le premier lanceur partiellement réutilisable. Contrairement aux autres lanceurs en service, le Falcon 9 est capable de réutiliser son étage principal. Un succès...
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Transmettre le goût d'une limonade par Internet : ils l'ont fait !
Des chercheurs ont réussi à transmettre, via Internet, la couleur et le goût d'une limonade en se servant d'électrodes plongées dans un verre d’eau (pour répliquer l'acidité) et d’un éclairage LED (pour créer la teinte). À terme, ce système pourrait permettre de partager toutes sortes de...
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jeudi 30 mars 2017
Iron ore price under pressure from Chinese mine restarts
The Northern China import price of 62% Fe content ore drifted lower to trade at $81.60 per dry metric tonne on Thursday according to data supplied by The Steel Index, bringing the pullback over the past two weeks to 12%.
Worries about supply and stockpiles at record highs are worrying the market. According to estimates from Rio Tinto, world number two producer, 296m tonnes of additional seaborne supply have entered the market in the last three years.
The Melbourne-based diversified giant forecasts supply growth to slow but a further 100m tonnes from the world's top six producers are expected this year and next.
The potential reboot in Chinese iron ore production is the main source of uncertainty
It's not only low-cost miners from Brazil and Australia that are clouding the outlook, but domestic Chinese supply which have fallen by 140m tonnes from its peak to around 260m per year, but are now making a comeback:
"Additional capacity in Brazil and Australia is already reflected in iron ore prices, so the potential reboot in Chinese iron ore production is the main source of uncertainty and therefore the likely factor that will result in price volatility," Kellie Parker, Rio's managing director for planning integration and assets, told an industry conference on Wednesday.
BHP Billiton, the world's third-biggest iron ore producer, expects to see some idled iron ore capacity in China returning to the market, but could not estimate how much.
"We think if the price maintains the level that is attractive, you will see some (capacity return)," Edgar Basto, president of BHP's Western Australia Iron Ore Asset, told reporters at the same event.
Rio said with the release of its latest financial results that roughly 30m tonnes of Chinese supply had already come back online.
According to Umetal's survey of 42 ports in China, the total iron ore inventory scaled 130 million tonnes for the first time on record this week. But in terms of months of import cover stockpiles represent, the picture looks less dire as China-bound cargo volumes continue to rise.
Total imports for January-February climbed 12.6% to 175.3 million. Chinese imports of iron ore for the full year 2016 topped one billion tonnes for the first time. The 1.024 billion tonnes constitute a 7.5% increase over the annual total in 2015.
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Commentaires sur Gagnante du Jeu « 40 Ans du Comptoir National de l’Or » : le lingot d’1kg remis à la gagnante Limougeaude. par Vincent de Gold
Bonjour Geoffroy, effectivement, une quarantaine de comptoirs ont participé à cette opération. Vous pouvez voir la liste des participants ici en bas de page: http://ift.tt/2nkbXjV
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Rayons X : bientôt des radiographies ultra-précises ?
Les instruments d'analyse par rayons X, par exemple pour les radiographies, sont limités en résolution. Pourtant, il est possible de faire beaucoup mieux, comme le montrent des chercheurs du CNRS, de l'université de Franche-Comté et d'Aix-Marseille université, ouvrant la voie à des images...
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Argentine provincial Gov’t orders Barrick to halt operations at Veladero
Argentina's San Juan province has ordered Barrick Gold (TSX, NYSE:ABX) to halt operations at its Veladero mine following the decoupling of a pipeline carrying gold and silver solution on the leach pad Tuesday night.
In a brief statement Wednesday, Barrick said the incident was quickly addressed and that it posed no threat to the environment.
But San Juan’s governor, Sergio Uñac, told local newspaper La Nación (in Spanish) his decision was based on conversation with the head of the province's mining police, who personally went to the mine on Wednesday and reported to him this morning.
The authority noted the measure was just temporary, pending more information on what happened and the possible consequences of the new incident, the third issue affecting Veladero in less than 18 months.
Operations at the mine were briefly halted in September after falling ice damaged a pipe, causing a spill containing cyanide.
Earlier in the year, , the Toronto-based miner had been ordered to pay a 145.7m pesos fine (about $9.8m at the time) over a cyanide spill at the same mine, which happened almost exactly a year before.
When Barrick announced the fine in March last year, it said it had undertaken a plan to strengthen controls and safeguards at the mine, including increased water monitoring.
Veladero, one of the largest gold mines in Argentina, produced 544,000 ounces last year. Proven and probable mineral reserves as of December 31, 2016, were 6.7 million ounces of gold, according to the company's website.
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Escondida mine replaces top exec after failing to reach deal with workers
Chile’s Escondida copper mine, the world’s largest, has named Brazilian Mauro Neves as its new president, following a historically long 43-day strike at the operation that ended last week with the parts failing to reach a wage deal.
Escondida — responsible for about 5% of the world’s total copper output — failed to produced more than 120,000 tonnes of the red metal due to the historically long 43-day strike.
Neves, who has held positions at mining giant Vale (NYSE:VALE) and Australian logistics firm Aurizon, takes over from Marcelo Castillo, who had been acting as the mine’s president on an interim basis since August last year.
Castillo, said Escondida in a statement quoted by EFE (in Spanish), will assume the position of vice president of Integrated Operations.
It's estimated that Escondida — responsible for about 5% of the world’s total copper output — failed to produced more than 120,000 tonnes of the red metal due to the stoppage.
The labour action at the world’s largest copper mine became the longest private-sector mining strike in Chile’s history and its outcome is being considered a disaster for BHP Billiton (ASX, NYSE:BHP) (LON:BLT), who majority owns and operates the mine. The miner was left with an estimated $1 billion loss and months of work ahead of it before it can fully restore production to pre-strike levels.
Other than BHP, Rio Tinto (LON:RIO) and Japanese companies such as Mitsubishi Corp. (TYO:8058) also hold stakes in the mine.
Chile is the world's biggest copper producer, and sales of the metal make up for about 60% its export earnings.
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Le tigre de Tasmanie a-t-il vraiment disparu ?
Le tigre de Tasmanie est une espèce considérée comme éteinte depuis des décennies, mais des chercheurs veulent en avoir le cœur net suite à des témoignages troublants. Ils prévoient l’installation de 50 caméras dans le nord du Queensland, sur la péninsule du cap York, en Australie.
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Windows 10 Creators Update sera disponible le 11 avril
Microsoft a confirmé la date de lancement de la mise à jour majeure de Windows 10 qui apportera son lot de nouveautés, principalement pour les activités créatives et en 3D. Baptisée Creators Update, elle sera disponible gratuitement à compter du 11 avril.
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El Salvador becomes first country to ban all metal mining
Lawmakers in El Salvador, Central America’s smallest nation, have passed a law that bans all mining for gold and other metals, making the country the world’s first to impose such a broad prohibition on the extraction of minerals, environmentalist said.
The ruling, aimed at protecting the nation’s allegedly quite fragile environment, comes after a long-dragged dispute over a proposed gold mine by Pac Rim Cayman, a unit of Canadian-Australian company OceanaGold Corp. (TSX:OGC).
Legislators across the political spectrum supported the measure, which does not apply to quarrying or the mining of coal, salt and other non-metallic resources.
Supporters said the ban was essential to protect water resources and reduce social tensions.
"Mining is not an appropriate way to reduce poverty and inequality in this country," Ivan Morales, country director for the charity Oxfam in El Salvador said in a statement. "It would only exacerbate the social conflict and level of water contamination we already have."
The law also bans the use of toxic cyanide and mercury for mining.
According to the United Nations, El Salvador is one of the most densely populated countries and the second-most environmentally degraded in America, after Haiti, which makes it especially sensitive to the potential impact of large mining projects.
In October, the government of won an international arbitration case filed by Pac Rim over a rejected licence to build a gold mine in the country’s north. The panel rejected the company’s claim for compensation.
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Civilisations extraterrestres : l'équation de Drake doit être revue après les découvertes récentes
Formulée par Francis Drake en 1961, la célèbre « équation » qui porte son nom sert à évaluer le nombre de civilisations avec lesquelles nous pourrions communiquer. Ou, du moins, à poser un support de réflexion. Depuis, les connaissances sur l'histoire de l'Univers ont considérablement progressé....
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Rayon X : bientôt des radiographies ultra-précises ?
Les instruments d'analyse par rayons X, par exemple pour les radiographies, sont limités en résolution. Pourtant, il est possible de faire beaucoup mieux, comme le montrent des chercheurs du CNRS, de l'université de Franche-Comté et d'Aix-Marseille université, ouvrant la voie à des images...
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Inédit : SpaceX va lancer un Falcon 9 réutilisé ce soir
Cette nuit, un Falcon 9 décollera avec un satellite de télécommunication. Ce quatrième lancement de l’année pour SpaceX sera aussi le premier de l’histoire à réutiliser un étage principal qui a déjà volé. Cette nouvelle ère du transport spatial qui s’ouvre sous nos yeux devrait rendre l’espace...
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mercredi 29 mars 2017
Thermal coal price rally to hold
After a surge in coal prices in the second half of 2016 on the back of mining curbs imposed by China, both thermal and metallurgical coal have declined sharply this year.
But at above $80 and $150 a tonne respectively, the market is still trading well above recent multi-year lows which saw seaborne benchmark thermal coal trade dip below $50 and coking coal touch $75s.
A new report from BMI Research, a unit of Fitch, predicts thermal coal prices will drift lower but hold onto much of these gains on the back of strong demand from top consumer China which forges as much steel and burns as much coal as the rest of the world combined.
BMI upped its price expectations for this year and 2018 and now forecasts steam coal to hover between $70 to $90 over the next three to six months buoyed by Beijing's continuing fiscal support to the heavy industries.
f = BMI forecast. Source: BMI, Bloomberg.
While the shortage of seaborne coking and thermal coal supply that had developed over H216 has eased, the market is still tight due to a 1.7% y-o-y drop in Chinese raw coal output in the first two months of 2017. Nevertheless, high-frequency indicators, including time-spreads on Newcastle coal futures, indicate that a loosening trend is underway in the global market.
For instance, the spread between first and six-month Newcastle coal contracts has narrowed to around $4.35/tonne in March 2017, compared to an October 2016 high of $7.65/tonne.
As a result towards the end of 2017, the seaborne market is likely to loosen further and prices head lower again and continue to ease towards the end of the decade according to BMI.
After missing out on the rally in seaborne coal last year thanks to a very small presence in export markets, prices achieved by US miners have been playing catch-up.
Hopes of a revival for the industry thanks to changes to the regulatory environment by the Trump administration have seen Central Appalachian coal (Nymex FOB) jump nearly 40% to $51.60 a short ton year from decade lows hit in October. Coal from the Powder River basin has also improved, jumping to $11.45, from the $8.25 low hit hit in September.
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Fresh ‘incident’ at Barrick’s Veladero mine in Argentina
A fresh incident has been registered at Barrick Gold’s (TSX, NYSE:ABX) Veladero mine in the San Juan province of Argentina in what is the third issue affecting the operation in less than 18 months.
According to Osvaldo Lima, the provincial government spokesman, a pipe carrying a “rich mixture” of gold and rocks came lose on Tuesday night, local paper La Nacion reports (in Spanish), without offering further details.
Veladero resumed operations in October after having been suspended for almost a month following a spill containing cyanide, the second such spill in just over a year.
In early 2016, the Toronto-based miner was ordered to pay a 145.7m pesos fine (about $9.8m at the time) over a cyanide spill at the same mine, which happened almost exactly a year before.
When Barrick announced the fine in March, it said it had undertaken a plan to strengthen controls and safeguards at the mine, including increased water monitoring.
Veladero, one of the largest gold mines in Argentina, had proven and probable mineral reserves as of December 31, 2015 of 7.5 million ounces of gold. Gold production in 2016 was expected to be 630,000-690,000 ounces at all-in sustaining costs of $830-$900 per ounce according to the company's website.
More to come…
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Des ondes de Rossby découvertes dans le Soleil
Sur Terre, les vents et les courants marins oscillent sous forme d' « ondes de Rossby », mais ces ondes ne se situent pas uniquement sur notre planète. Pour preuve, les physiciens viennent d'en trouver… dans l'atmosphère du Soleil ! La météorologie solaire devrait profiter de...
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Miners to spend $21 billion in exploration by 2025
An undeniable and ongoing rebound in commodity prices could take global mining spending in exploration up to as much as $21 billion by 2025, a level of funding last seen in 2012 according to S&P Global Market Intelligence, but which is necessary to sustain the industry’s growth.
While prognosticating that far into the future can inevitably lead to inaccuracies, Stan Wholley, President for the Americas at CSA Global — the world's second-largest mining sector consultancy — said that such a hefty investment is essential.
Gold, by far, is the commodity leading the uptick in exploration spending, followed by graphite, zinc and lithium.
“As deposits get harder and more expensive to find and after such an extended period of inactivity in the exploration space, I believe we need to be back at the levels seen in 2012 to replace resources and reserves required to sustain growth,” he told MINING.com.
Gold, by far, is the commodity leading the uptick in exploration spending, he says. The relatively stable and reasonably high current prices have allowed producers to secure good margins again, Wholley notes, adding that many are beginning to use that surplus not only in exploration, but also in acquisitions.
One of the most recent examples is Goldcorp’s (TSX:G) (NYSE:GG) spending spree unveiled this week. The world’s No.3 producer of the precious metal by value not only is allocating more than $700 million to partner up with Barrick Gold Corporation (TSX:ABX) on a 50-50 joint venture in Chile, but it has also taken over Exeter Resource Corp. (TSX:XRC) in a deal worth $185 million.
The expert, who has more than 25 years of experience in exploration and mining geology, is quick to add that the precious metal is not the only resource companies are after these days.
Stan Wholley, President for the Americas at CSA Global.
“We have seen great interest in what I’d call ‘batch’ metals — graphite, zinc and lithium — particularly in Australia, Latin America and Russia,” says the consultant at CSA Global, which expanded operations to Canada in August last year.
While Wholley believes Down Under is leading the way in terms of recovery in mining exploration, he adds that those companies are not necessarily searching for riches in their backyard.
“Most are venturing abroad, with gold projects in West Africa being the top investments, but we’ve also seen renewed interest in Latin America, particularly Argentina and Mexico,” he notes.
Suppliers not feeling the love
Wholley acknowledges that suppliers and equipment providers don’t seem to be “feeling the love” just yet, but he is quite optimistic about the medium-term prospects. He says 2017 is, and will continue to be, a recovery-year and that a significant shift is coming towards the end of this year.
“We’ve got to the bottom of the cost-cutting trend of the last four to five years (…) Most of the majors are now in acquisition-mode or exploration-mode and that’s great news,” he says. “If I were a machinery maker, I would be pretty optimistic about the next 12 to 18 months to two years,” he concludes.
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Un tétraplégique retrouve l'usage de son bras grâce à une neuroprothèse
Un Américain tétraplégique peut à nouveau utiliser son bras et sa main droite pour boire ou manger, grâce à une neuroprothèse. Ce dispositif, qui rétablit une connexion entre le cerveau et les muscles, est une première médicale.
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Eldorado to begin production at its Greek Olympias mine by year-end
Canada’s Eldorado Gold (TSX:ELD)(NYSE:EGO) continues to grow stronger in Greece, where it faced several hurdles in the past, and as a proof of it, the miner said it has recently obtained better concentrate sales terms at its Olympias gold project.
Construction at the Olympias gold project in northern Greece is mostly complete, with commissioning underway.
The Vancouver-based company noted it has received “multiple tenders for significantly better concentrate sales terms beyond 2017” for material from the northern Greece project, where wet commissioning of phase two is underway.
Under the new sales terms, gold payability rates have increased from 58% up to a maximum of 71%, which is expected to result in an increase of roughly 15,000 ounces of payable gold production per year, the miner said.
As a result, the company now estimates yearly production from Phase II, which involves processing 400,000 tonnes of ore a year from an underground mine, will be around 85,000 ounces of gold (from 72,000 ounces previously expected), which translates into about 55,000 ounces of gold equivalent production.
The Olympias mine, slated to begin commercial production in the September quarter of the year, also produces zinc, lead and silver.
More details in the Press Release:
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Faire pousser un mini-cerveau, c'est possible
Pour étudier sans limites des maladies neurodégénératives, une équipe française a créé des « mini-cerveaux », où le tissu cérébral est reconstitué en trois dimensions.
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Mars : quel site d'atterrissage pour la capsule Red Dragon de SpaceX ?
La Nasa et le JPL ont identifié quatre sites d’atterrissage potentiels pour les activités robotiques et humaines de SpaceX. L'endroit devra être suffisamment plat pour que la capsule Red Dragon ne bascule pas à l’atterrissage et assez près de grandes quantités d’eau (glacée) afin de répondre aux...
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Un poulpe géant filmé en train de dévorer une méduse
Un poulpe géant des abysses a pu être filmé à près de 400 m de profondeur. Il avait, entre ses tentacules, un curieux reste de repas : une grande méduse, à moitié dévorée. L'animal a peut-être conservé la partie urticante de sa proie pour en chasser d'autres ou bien pour se protéger. Une...
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mardi 28 mars 2017
Le Samsung Galaxy Note 7 bientôt de retour
Samsung veut remettre en vente des smartphones Galaxy Note 7 reconditionnés, dont 2,5 millions d’exemplaires avaient été rappelés ou retirés après de nombreux incidents liés à un défaut sur la batterie.
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Trump signs executive order undoing Obama's clean power plan
US President Donald Trump has signed an executive order that undoes the Obama Administration’s Clean Power Plan and has ordered the Environmental Protection Agency (EPA) to review and rewrite it.
The targeted plan called on governments to reduce carbon emissions from power plants and had an overall goal of cutting missions by at least 26% by 2025. And by 32% by 2030, which would have reduced significantly the share of coal in power generation worldwide.
The “Energy Independence” executive order, Law360 reports (sub. required) also instructs the US Department of the Interior to overturn a rule regulating hydraulic fracturing (fracking).
More to come …
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Vale’s new CEO Schvartsman a political move in the right direction — analysts
In an unexpected move, Brazil’s Vale (NYSE:VALE) named Monday Fabio Schvartsman, a domestic industry insider, as its new chief executive officer to lead the transition of the world’s largest iron ore miner into a new shareholding structure.
Schvartsman, until now the head of Klabin SA, Brazil's largest paper and cardboard producer, was not one of the names media reports had leaked in the past weeks as the most likely successor for Murilo Ferreira, who announced his departure last month.
His appointment comes amid speculation over Vale’s future with the looming end of a controlling shareholder agreement that has ruled the company for almost 20 years.
It also comes at a time when some political parties had been trying to place their own appointee to lead the Rio de Janeiro-based company.
Fabio Schvartsman was aapointed by Vale’s board from a list prepared by recruitment firm Spencer Stuart. (Image: Screenshot from OGlobo video)
“This is a politically important job, given the importance of mining in the state of Minas Gerais,” wrote Tuesday Cedric Rimaud, director of emerging markets research at Gimme Credit.
“He will have to deal with a huge debt pile, the difficult question of how to come to a deal with Federal authorities on the amount of liabilities that are due for Samarco disaster and the restart of operations at the JV it shares with BHP Billiton,” Rimaud wrote.
For Leonardo Correa, a senior analyst at Banco BTG Pactual, Schvartsman’s nomination "minimizes investor concerns on political interference at Vale, which we view positively," he said in a client note.
While the upcoming CEO doesn't have experience in the mining sector, he has held top jobs at companies such as fuel distribution giant Ultrapar Participacoes, phone carrier Telemar Participacoes and US oil driller San Antonio International, Vale noted.
Schvartsman was appointed by the firm’s board from a list prepared by recruitment firm Spencer Stuart.
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Sprott's Reik tackles biggest misconception about gold price
A couple of weeks ago it looked as if gold's 2017 rally was fizzling out. Then the Federal Reserve acted on a telegraphed interest rate hike and accompanied the upward adjustment, only the third such move in a decade, with surprisingly dovish comments.
Rate hike expectations for the rest of the year were dialled down despite signs that inflation could soon creep above the central bank's targeted rate. The dollar fell and so did yields on US government bonds, exactly what the gold price needed.
On Tuesday gold futures contracts on the Comex market in New York touched a high of $1,258.40, up more than $50 from levels just before the Fed announcement and showing gains of 9% so far in 2017.
Trey Reik, lead portfolio manager at Sprott Institutional Gold & Precious Metal Strategy in the US, in a column examines the relationship between interest rates and the gold price which conventional wisdom sees as having a strong inverse relationship:
Perhaps the single greatest misconception about gold, especially in contemporary trading circles, is the erroneous belief that rising U.S. short-term interest rates are inherently threatening to gold’s prospects. We believe rising rates have far less to do with gold’s performance than the reasons why rates are rising and whether the Fed is deemed to be “in control.” After all, when gold exploded to all-time highs in January 1980, the Fed’s discount rate was 12% and fed funds were targeted at 14%. Many will object that the January 1980 experience is not germane, because conditions in 1979 were substantially unique (inflation, oil shock, Iran hostages and Hunt brothers). Conceding all decades are different, we turn to the more recent past for evidence rising rates can coexist with surging gold prices.
Figure 4: Spot Gold Versus Upper Band of Fed Funds Target Rate (7/4/03-3/1/07)
Source: Bloomberg via Sprott
In Figure 4, we plot the Fed’s target fed funds rate versus spot gold from mid-2003 through early-2007. Between June 2004 and June 2006, the FOMC increased its target funds rate by 25 basis points at 17 consecutive meetings! During the span, fed funds more than quintupled, from 1.0% to 5.25%, yet spot gold climbed as much as 86% along the way (from a $392.55 close the day before 6/30/04 liftoff to an intra-day high of $730.40 on 5/12/06). Obviously, Fed tightening has far less reflexive impact on the gold price than commonly perceived. Should the Fed have the temerity to push fed funds along the confines of their most recent dot plot (three hikes in 2017, followed by three more in 2018), we would expect immediate upticks in default rates across a wide spectrum of sketchy components of the U.S. $66 trillion credit-market debt pile. In an environment of long-overdue debt rationalization, we would expect gold’s traditional profile, as a portfolio asset immune to both default and debasement, to garner significantly renewed investor enthusiasm.
Read more at Sprott Thoughts
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L'énigme de la matière noire et des galaxies naines enfin résolue ?
Selon le modèle de la matière noire froide, nous devrions observer de nombreuses galaxies naines près des grandes galaxies, or, il n'en est rien. Pourquoi ? L’une des hypothèses met en cause le rayonnement UV des quasars. C’est lui qui aurait stoppé la formation des étoiles dans les galaxies...
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Avec Neuralink, Elon Musk veut fusionner humains et machines
Elon Musk, le patron de Tesla et SpaceX, vient de lancer une nouvelle entreprise baptisée Neuralink. Son ambition : créer une interface neuronale qui puisse, dans un premier temps, soigner des maladies telles que l’épilepsie et qui, à terme, permettrait au cerveau de communiquer directement avec...
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Les chats préfèrent nos caresses à la nourriture
Dans une expérience où des chats devaient choisir entre un contact avec des humains, de la nourriture, des jeux ou des odeurs, la majorité des félins a préféré passer du temps avec l’Homme. Manger venait ensuite.
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Des milliers d'empreintes de dinosaures découvertes dans le « Jurassic Park » australien
Sur la côte nord de l'Australie occidentale, un site, connu des aborigènes, recèle des milliers d'empreintes de pas de nombreuses espèces de dinosaures. Datée du Crétacé inférieur, cette collection exceptionnelle commence à parler.
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Le Cern sur la piste de l'antigravité avec l'expérience GBAR
L'antimatière se comporte-t-elle comme la matière dans un champ de gravité ? Nous n'en sommes pas encore certains. Des expériences menées au Cern, comme celle appelée « GBAR », doivent le vérifier. Si tel n'est pas le cas et qu'il existe une « antigravité », il faudrait alors profondément...
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Rio Tinto may take over Pistol Bay’s uranium assets sooner than expected
Rio Tinto (LON:RIO) may become the sole owner of Pistol Bay Mining’s. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, sooner than originally planned, as it has decided to pay the junior miner $750,000 before April 17.
Rio will effectively hold a 100% stake in the uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2.25 million by the end of 2019.
The move by the world's second largest miner amends a January agreement and means that once it gives Pistol Bay the remaining sum, Rio will own three key assets, located close to Cameco’s McArthur River mine — the world’s largest producing uranium mine.
Pistol Bay said Rio will effectively hold a 100% stake in the C 4, 5 and 6 uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2.25 million by the end of 2019.
In 2014, the Vancouver-based junior optioned the C5 Property, along with the C4 and C6 claims to Rio Tinto, which already has a 75% interest in the assets. Last year, Rio announced its intention to exercise its option to increase its stake in the assets to 100% by paying Pistol Cdn$5 million by December 2019.
So far, the mining giant has drilled 12 holes for a total of 6,104 m on the C5 Property, and completed gravity and DC resistivity surveys.
Meanwhile, Pistol Bay will focus its efforts in advancing its Dixie zinc-copper-gold properties in Ontario, Canada, which it bought in October last year.
The acquisition, combined with the already optioned Dixie and Dixie 3 Properties, made the Canadian junior the dominant landholder in the Confederation Lake Greenstone Belt, a 7,050 hectares-area in the area southeast of Red Lake.
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This potash producer will help marijuana growers get a better product
Canada’s IC Potash Corp. (TSX:ICP) is creating a new research and development subsidiary called ICP Organics to focus on enhancing yields for cannabis growers and increasing the health impact and effects for consumers.
The freshly formed company will invest up to Cdn$1 million into a number of facilities and companies with the intent of generating revenues and profits by the first quarter of 2018, IC Potash said in the statement.
ICP Organics will invest up to Cdn$1 million into a number of facilities and companies with the intent of generating revenues and profits by the first quarter of 2018.
The Toronto-based company expects ICP Organics to become a new revenue source as the potash market continues to struggle, with prices for the fertilizer ingredient trading close to a ten-year low due to a glut of global supply.
The potash market has also suffered from increased competition following the breakup in 2013 of a Russian-Belarusian marketing cartel that previously helped limit supply.
And while they have slightly recovered in the past eight weeks, a potential move by the Indian government to cut potash subsidies by 17% in the next financial year would hit demand from one of the world's largest importers of the fertilizer, inevitably dragging prices down.
Diversifying towards the cannabis sector and organic fertilizers then seems like a good idea for IC Potash’s chief executive, Mehdi Azodi, who believes that healthy consumption of marijuana starts with organic growing practices.
“With the rise of medicinal and recreational Cannabis, there has been increased consumer awareness towards the presence of pesticides and other dangerous chemicals that have been found in Cannabis sold throughout Canada and around the world,” Azodi said.
He noted that once finalized the research and development program, ICP Organics would patent its formulations and move towards offtake agreements with select growers.
Investors reacted positively to the news. The stock was trading up 10.53% in Toronto at 9:30 am ET, changing hands at Cdn 0.105.
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Barrick, Goldcorp team up to develop one of world’s largest gold deposits in Chile
Canada’s Barrick (TSX, NYSE:ABX) and Goldcorp (TSX:G) (NYSE:GG), the world’s No.1 and No.3 producers of the precious metal by value, are teaming up to develop projects in northern Chile, particularly Cerro Casale, one of the world’s largest gold-copper deposits.
As part of the agreement, Barrick has sold a 25% stake in Cerro Casale to Goldcorp, which will result in a 50-50 joint venture focused on building gold mines in Chile’s prolific Maricunga belt.
Joint venture will allow them to consolidate infrastructure, reduce costs, decrease the environmental footprint and provide better returns than if they had standalone projects.
The move, a fresh sign that miners are moving from cost-cutting to expanding operations and investing in exploration, also prompted Goldcorp to acquire Exeter Resource Corporation (TSX:XRC) for about $250 million.
The takeover makes of Goldcorp the sole owner of the Caspiche gold-copper project, conveniently located only 10 km north of Cerro Casale.
"With the acquisition of Caspiche and 50% of Cerro Casale, we envisage the two deposits being jointly advanced with Barrick, similar to our existing arrangement with Teck Resources at NuevaUnión,” Goldcorp’s President and Chief Executive Officer David Garofalo said in a separate statement.
He noted the joint venture with Barrick would allow them to consolidate infrastructure to reduce costs, reduce the environmental footprint and provide increased returns compared to two standalone projects.
Under the terms of the deal, Goldcorp is required to spend a minimum of $60 million in the two-year period following closing of the transaction, and a minimum of $80 million in each successive two-year period until the deferred payment obligation is satisfied.
If the Vancouver-based gold miner does not spend the minimum in any two-year period, it will instead be required to make a payment to Barrick equal to 50% of the shortfall (with a corresponding reduction in the deferred payment obligation), Goldcorp said.
This is not the first time the two gold miners work together. In the past, they’ve joined efforts to run the Marigold mine in Nevada, which they ended up selling in 2014 to Silver Standard Resources (TSX:SSO) for $275 million.
Cerro Casale holds proven and probable reserves of 23.2 million ounces of gold and 58.7 million ounces of silver. It also contains 5.8 billion pounds of copper.
According to a feasibility study conducted in 2010 by Kinross Gold (TSX:K) (NYSE:KGC), which had a 25% in Cerro Casale until today, the plan was to build an open pit mine with a 20-year life and a heap leach processing operation for an initial capital cost of roughly $4.2 billion.
According to a feasibility study conducted in 2010 by Kinross Gold, which had a 25% in Cerro Casale until today, the plan was to build an open pit mine with a 20-year life and a heap leach processing operation. (Image: Barrick Latin America)
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lundi 27 mars 2017
US coal boss Robert Murray: Trump 'can't bring jobs back'
After a surge in coal prices in the second half of 2016, both thermal and metallurgical coal have declined sharply this year, but around $80 and $150 a tonne respectively, the seaborne market is still trading well above recent multi-year lows.
After missing out on the rally in seaborne coal last year thanks to a very small presence in the seaborne trade, prices achieved by US miners have been playing catch-up.
Hopes of a revival for the industry thanks to changes to the regulatory environment by the Trump administration have seen Central Appalachian coal (Nymex FOB) jump nearly 40% to $51.60 a short ton year from decade lows hit in October. Coal from the Powder River basin, (8,800btu/lb) has also improved, jumping to $11.45, from the $8.25 low hit hit in September.
Murray is confident Trump will follow through with campaign plans to reinvigorate the coal industry
Coal production in the US has fallen dramatically over the past few year. American coal production in 2016 was 746m tonnes, down from over a 1B tons in 2014 according to EIA estimates. Coal consumption fell over the same period from 917m to 737m tons, while coal exports nearly halved to 58m tons.
Robert Murray founder and chief executive of Murray Energy, the largest privately held coal mining company tells the Guardian newspaper he's "confident Trump will follow through with campaign plans to reinvigorate the coal industry," by repealing the previous administration's "fraudulent" green energy policies.
However, says Murray, the US coal industry does "not have a climate change or global warming problem, we have an energy cost problem” and warned Donald Trump to “temper” expectations about a boom in mining jobs:
Trump has consistently pledged to restore mining jobs, but many of those jobs were lost to technology rather than regulation and to competition from natural gas and renewables, which makes it unlikely that he can do much to significantly grow the number of jobs in the industry, said Murray.
“I suggested that he temper his expectations. Those are my exact words,” said Murray. “He can’t bring them back.”
Continue reading at The Guardian
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This precious metal has surged 32% in 2017
The price of rhodium is trading 32% up so far this year and has added nearly $400 an ounce since hitting 12-year lows mid-2016.
Rhodium's main application is to clean vehicle emissions and the price quoted by Johnson Matthey, the world's number one manufacturer of autocatalysts, on Monday breached $1,000 for the first time since June 2015.
Due to rarity, the small size of the market and concentrated supply – South Africa alone produces roughly 80% of the world's rhodium – prices are typically volatile.
But rhodium (and sister metal ruthenium) stands out when it comes to price swings – the metal touched $10,025 an ounce just before the 2008 financial crisis hit, but would drop 90% before the end of that tumultuous year.
South African PGM producers extract a mix of metals comprising roughly 60% platinum, 30% palladium and 10% rhodium
Robust car sales in China and the US, where gasoline vehicles dominate, coupled with rising emissions standards worldwide has been a boost for the metal. Rhodium and palladium finds application in gasoline vehicles while diesel-powered mostly use platinum for autocatalysts. Platinum at $970 an ounce has advanced 8% in 2017, while palladium is showing gains of 19%, climbing back above $800 an ounce recently.
Rhodium has also benefitted from speculative demand. Deutsche Bank launched a rhodium exchange traded fund as far back as 2011 while South Africa's Standard Bank listed its own physically-backed rhodium ETF at the end of 2015.
South African PGM producers extract a mix of metals comprising roughly 60% platinum, 30% palladium and 10% rhodium.
Ruthenium prices have also been moving, with the metal, used in the aerospace industry thanks to a very high melting point and in distinctive jet black jewellery, scaling $50 in recent weeks.
German precious metal trader and refiner Heraeus commented last week that "it will be interesting to see if there is truly an industrial sector that plans a new use for this at current price levels or will they abandon it if it trades much higher."
Ruthenium prices peaked in 2007 shy of $900 an ounce, but has languished in double digits since November 2012.
Hong Kong wholesale price 99.9% rhodium. Source: Johnson Matthey
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Iron ore hits lowest price since early February
Iron ore continued its recent downwards trajectory Monday, with the spot price for benchmark 62% fines shedding a further $33.49 per tonne and taking seaborne down to its lowest level since early February.
Prices have lost $9.92 a tonne since last Monday, according to data provided by the Metal Bulletin, closely resembling the situation affecting Chinese iron ore futures.
It’s too early to say the current downward trend is the beginning of a new slump, says Stan Wholley, president for the Americas at CSA Global.
The most actively traded September 2017 contract on the Dalian Commodities Exchange had slumped earlier 5.26% to 549.5 yuan a tonne, hitting a low of 541 yuan earlier in the session. That’s about double the losses seen overnight Friday.
“Market participants are mostly expecting prices to fall further amid weak demand and high inventory levels,” the analysts at the Metal Bulletin wrote Monday.
Some believe the current drop in prices have its roots in mounting inventory at Chinese ports, currently sitting at the highest levels since 2004, the FT.com reports citing Shanghai Steelhome data.
Others, blame an ongoing glut that has worsened due to that fresh supply coming from recently opened mines, for the weaker prices.
Yet there are some, such as Stan Wholley, president for the Americas at CSA Global, and who has vast experience in the iron ore market, who believe it’s too early to say the current downward trend is the beginning of a new slump.
“If we go back nine or eight months, iron ore was in the $40s and everyone was saying there was no reason to see a recovery, and that it would probably stay in the range of $40 to $60 for the next two to three years,” Wholley told MINING.com. “Those pundits were shown to be very wrong (…) If you look at current prices in context, you’ll see all of the majors are making incredibly good margins at the moment and even small or mid-tier iron producers are making money at current prices.”
The consultant, with more than 25 years of experience in exploration and mining geology, particularly in the iron ore sector, said he didn’t believe prices would return to the highs hit between 2008 and 2012, but he added that as far as they hover in the $60-$90 range, it’d be enough for most producers to keep their business not just going, but doing well.
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Une feuille d’épinard pour réparer le cœur !
Des chercheurs américains ont réussi à fabriquer un tissu cardiaque humain fonctionnel dans une feuille d'épinard. L'idée est d'utiliser la structure des vaisseaux de la plante pour alimenter les cellules du cœur en nutriments.
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US court cancels most of class action against Samarco over deadly dam burst
A US judge has annulled most of a $58.2 billion-civil lawsuit against iron miner Samarco, and its owners Brazil’s Vale (NYSE:VALE) and BHP Billiton (ASX, NYSE:BHP) (LON:BLT), for a collapsed tailings dam that killed 19 people and polluted a major river in 2015.
In a statement Monday, Vale said the US District Court for the Southern District of New York had annulled last week the majority of a class action lawsuit against the company and executives, including those involving CEO Murilo Ferreira, over the a fatal spill that hit Brazil’s Minas Gerais state
The only parts of the case that remain ongoing are related to specific statements made by Vale in 2013 and 2014, and a conference call in November 2015, , the Rio de Janeiro-based company said.
More to come …
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Des satellites plus intelligents grâce aux systèmes d'exploitation temps réel
Les satellites récents, qu’ils soient placés en orbite autour de la Terre ou partis explorer d’autres planètes, sont dotés d’une certaine autonomie de décision. Il ne s’agit pas encore d’intelligence artificielle mais pas loin. Pour les contrôler, il existe des « systèmes d’exploitation temps...
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Production at Syncrude’s Mildred Lake oil sands to resume next month
Suncor Energy (TSX, NYSE:SU), Canada’s largest oil and gas company, said Monday it expects to meet its 2017 production targets despite an explosion and fire that shut down Syncrude's Mildred Lake oil sands upgrader almost two weeks ago.
Suncor Energy, the largest partner in Syncrude, expects to meet its 2017 production targets despite the fire that shut down Syncrude's Mildred Lake oil sands upgrader almost two weeks ago.
The Calgary-based firm, the largest partner in Syncrude, said the March 14 incident was caused by the loss of containment on a line near one of the naphtha hydrotreating units.
The explosion and subsequent fire, left one worker severely injured and forced the shut down of the Mildred Lake oil sands upgrader, which has not shipped any synthetic crude from the operation since then, noted Imperial Oil (TSX:IMO), which owns 25% and is the de facto operator of the project.
“Efforts remain focused on safely assessing the extent of the damage and developing a recovery plan for a return to normal operations,” Imperial said, adding that production is expected to ramp up in stages as damage is repaired and units are ready for restart.
Pipeline shipments of treated product are expected to resume at up to 50% capacity in April, gradually ramping up to full rates after the turnaround is completed, according to Suncor, which has a 53.74% stake in Syncrude, Canada’s largest synthetic oil project.
A previous fire at the Mildred Lake site in August 2015 reduced output from the facility by about 80%. The flames damaged pipes, power and communications lines between two units of the upgrader. It returned to normal production the following October.
Syncrude, a partnership among six companies, employs about 4,600 people in Alberta. Its Mildred Lake facility is located about 40 km north of Fort McMurray.
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K+S Potash to begin production at its Legacy mine in Saskatchewan by year end
For the last 40 years, nine potash mines have been operating in Canada’s western-central province of Saskatchewan. But that’s about to change.
Before the end of 2017, K+S Potash Canada and Amec Foster Wheeler — the K+S Group subsidiary's design and project management partner — hope to start production at the Legacy project, a new site with an expected output of 2.86 million tonnes per year.
Interviewed by MINING.com’s Cecilia Jamasmie during the 2017 Prospectors & Developers Association of Canada Convention in Toronto, AmecFW's Global Mining & Metals Markets President, David Lawson, explained why, despite the tough climate in the potash industry, he is optimistic about the future of the Saskatchewan project.
Similarly, AmecFW’s President of Mining & Metal for the Americas, Duane Gingrich, talked about the challenges and advantages of building Legacy in the prairies.
According to Gingrich, the project's developers have been able to reduce its footprint and volume by 45%, saving nearly $100 million in cost of concrete. At the same time, he added, by designing and fabricating items away from the site, they have saved considerable amounts of time and money.
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La Tesla Model 3 se dévoile en vidéo
Elon Musk, le patron de Tesla, a partagé une courte vidéo montrant sa prochaine voiture électrique, la Model 3. Cette berline cinq portes est présentée comme le modèle d’entrée de gamme avec lequel la marque compte élargir sa clientèle.
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Les éruptions du jeune Soleil étaient hyperpuissantes
Dans deux météorites, dont celle d'Allende, les abondances de certains isotopes sont inexplicables avec l'activité solaire actuelle. Conclusion : dans sa jeunesse, les colères de notre Soleil étaient beaucoup plus fortes qu'aujourd'hui. Des centaines de milliers de fois, estiment les auteurs de...
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Un trou noir supermassif éjecté de sa galaxie par des ondes gravitationnelles ?
Lors d'une fusion de deux trous noirs supermassifs, une sorte de faisceau d'ondes gravitationnelles dont la puissance équivaut à celle de l'explosion de 100 millions de supernovae aurait été émis. En réaction, le trou noir résultant foncerait maintenant à 2.000 km/s à travers sa galaxie hôte.
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Apple : un brevet propose de rapprocher l’iPhone et le MacBook
Dans un brevet déposé aux États-Unis, Apple décrit un système hybride qui verrait un iPhone venir s'insérer dans le châssis d'un ordinateur portable pour l'alimenter et le faire fonctionner. L’idée est originale, mais pas vraiment nouvelle.
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dimanche 26 mars 2017
New mine in Iran to add 800,000 tonnes of zinc concentrate every year
Zinc has rallied of late, being the best performing commodity on the London Metal Exchange for the week March 13-17.
Up 12% year to date, the corrosion-resistant metal is being buoyed by record refined output in China and tight supply after a number of mine closures.
News out of Iran this week, however, could stem price gains, especially if more zinc mines come on stream around the same time as plans to develop the massive Mehdiabad zinc mine, come to fruition. Reuters reported that Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) signed a $1-billion deal with private investors over the weekend to build the mine, which is expected to become operational in four years and produce an annual 800,000 tonnes of zinc concentrate.
The investors comprise a private consortium of six companies, led by Iran's Mobin Mining and Construction Company, which would run the mine for 25 years.
IMIDRO estimates the lead-zinc-silver mine has 154 million tonnes of proven reserves, which could rise to 700 million tonnes after exploration. Reuters notes the 800,000 tonnes of expected annual zinc concentrate compares to 13.2 million tonnes of ore with zinc content mined throughout the world last year.
The announcement comes as Washington voted in January to extend sanctions against Tehran, whose nuclear ambitions have been a thorn in the side of the West, despite a historic deal made in 2015 with six countries in exchange for curbing its nuclear program.
Iran has the world's largest proven zinc reserves estimated at roughly 300 million tonnes, but the sector is vastly underdeveloped according to BMI Research, with just 0.5% mined so far. Iran sits behind China, Kazakhstan and India as the world's number four producer of zinc ore.
After several years of production decline, Iran's zinc mine output is set to return to positive growth, boosted by stronger international prices and booming demand from domestic construction.
The two largest mines are Mehdiabad with 16.5 million tonnes of zinc ore reserves and the Angouran mine with 9 million tonnes of remaining zinc ore reserves. Lead and zinc production are in the hands of Iran Zinc Mines Development Group, Bama Mining & Industrial, Bafgh Mines and Calcimin.
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11 Chinese miners die in neighbouring gold mine accidents
Accidents at two neighbouring gold mines claimed the lives of 11 miners working the pits in Henan province on Friday.
According to the official Xinhua news agency, via Reuters, local authorities said "Thick smoke engulfed a pit at the Qinling gold mine of China National Gold Group [CNGGC.UL] in Lingbao City on Friday morning, trapping 12 workers and six management staff."
Rescue workers recovered eight bodies Friday night and Saturday, and 10 were taken to hospital. Of the 10, one died in hospital and nine are recovering.
Another similar accident occurred on Friday afternoon at a gold mine close to the Qinling facility. Xinhua said among six workers that were trapped, four were rescued and two were found dead later that evening.
China has recently stepped up efforts to close unproductive or dangerous gold mines, and to boost gold output from 450 tonnes currently to 500 tonnes by the end of the decade.
On Feb. 28 Xinhua reported the Industry and Information Technology (MIIT) "aims to consolidate and upgrade the industry by reducing the number of gold [mining companies] to around 450 from more than 600, and shutting down 40 tonnes of outdated production capacity by the end of 2020."
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Une étrange créature filmée au fond du golfe du Mexique
En 2014, un engin sous-marin a surpris par hasard un curieux animal de couleur violette, d’espèce indéterminée dans le fond du golfe du Mexique. Il s’agit d’un siphonophore, un groupe bien curieux où une colonie d’individus très spécialisés forme ce qui ressemble à un animal mais qui n’en est...
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La raie à 21 cm : une clé pour l'astrophysique, la cosmologie et Seti
La raie à 21 cm est une raie spectrale émise par l’atome d’hydrogène neutre dans le domaine radio. Elle est devenue célèbre par son utilisation par le programme Seti. Très importante aussi en astrophysique, elle va le devenir pour la cosmologie. Petit rappel de cette clé de...
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samedi 25 mars 2017
Science décalée : les Français champions des émoticônes avec des cœurs
Un rapport de l’entreprise SwiftKey faisant le bilan des émoticônes les plus utilisés dans le monde montre que les francophones se distinguent par leur utilisation abondante de cœurs dans leurs messages. Le French lover ne serait donc pas un mythe.
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Sidaction : 10 infos méconnues et importantes sur le Sida
Le Sidaction 2017 se déroule les 24, 25 et 26 mars. Cette campagne d’appel aux dons est l’occasion de rappeler qu’encore 150.000 personnes sont touchées par le VIH en France, où chaque année 6.000 patients apprennent leur séropositivité. Le combat se poursuit avec la recherche d’un vaccin...
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Les filtres à eau du futur, à graphène, seront efficaces et bon marché
Une eau propre et accessible à tous, c'est l'un des objectifs du développement durable fixés par les Nations Unies. Or, filtrer l'eau très simplement, à travers une membrane et sans procédé chimique, c'est possible avec du graphène... mais c'est très cher. Obtenir du graphène pur est en effet...
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Curiosités de la nature : la première grenouille fluorescente
Aucun phénomène de fluorescence n’avait encore été observé chez un amphibien. Grâce à des chercheurs sud-américains, c’est désormais chose faite. Ils ont découvert une grenouille qui brille dans l’obscurité grâce à des molécules, elles aussi, totalement inédites.
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vendredi 24 mars 2017
World’s first seabed mine to begin production in 2019
Canada’s Nautilus Minerals (TSX:NUS), the world's first yet not the only seafloor miner, is on track to start operations at its Solwara 1 gold, copper and silver project off the coast of Papua Guinea in early 2019.
The Toronto-based company, which also is developing another underwater project, off the coast of Mexico, expects to have all its undersea mining tools ready to go by mid-next year, so it can kick-off operations at the Bismarck Sea-based project shortly after, chief executive Mike Johnston told Seeker.com.
The company's seafloor production machines, each the size of a small house, are equipped with massive rock-crushing teeth. (Courtesy of Nautilus Minerals)
But the road hasn’t been one except of bumps for Nautilus. Since first proposed, its Solwara project has met with some opposition mostly from environmentalist, who fear the aquatic ecosystem could be severely affected by mining the seabed.
The company also faced some hurdles long-dragged dispute with the Papua New Guinea government, which it was able to put aside in 2014. Since then, progress on the project has moved quickly, while competition has begun to flourish.
An auxiliary cutter goes along the sea floor first, removing rough terrain and creating benches for the other machines to work on. It has a boom-mounted cutting head for flexibility. (Courtesy of Nautilus Minerals)
It’s estimated that the United Nations’ International Seabed Authority (ISA), which is in charge of issuing exploration licences to both governments and companies has granted 26 such permits so far.
Countries including New Zealand, Namibia, Fiji, Tonga, Vanuatu and Solomon Islands have also granted permits for seabed mineral exploration. The Cook Islands has even undertaken a minerals exploration tender process, but PNG is the only country in the region to have granted a licence for ocean floor mining.
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Iron ore price: Beijing bets $5B on stranded Pilbara deposits
Worries about the longer term supply picture for the iron ore market resurfaced on Friday after the announcement of a high-profile infrastructure deal between China and Australia.
The Northern China import price of 62% Fe content ore fell again on Friday to trade at $84.40 per dry metric tonne, capping a terrible week that saw the price of steelmaking raw material slide 8.6% according to data supplied by The Steel Index.
Australian Prime Minister Malcolm Turnbull and Chinese Premier Li Keqiang signed a deal in Canberra on Friday which will see China's state-owned infrastructure company spend A$6 billion
(US$4.6 billion) to build a port at Balla Balla in the nortwest of the country and a 160km railway to a new mine to be constructed in the heart of the Pilbara region.
The project which already has environmental approval and is being advanced by Flinders Mines, controlled by New Zealand conglomerate Todd, will see the construction of a 6m–10m tonnes per year mine starting as early as next year. The project boasts resources of more than 1 billion tonnes and overal production of 250m tonnes grading 58.5% Fe.
China forges as much steel as the rest of the world combined and is dependent on iron ore imports for more than 80% of its needs
But the proposed port located between Hedland and Cape Lambert export terminals used by Rio Tinto and BHP Billiton could eventually add some 50m tonnes per year to the seaborne trade by unlocking vast stranded deposits of iron ore further inland.
China forges as much steel as the rest of the world combined and is dependent on iron ore imports for more than 80% of its needs. The country dominates the 1.3 billion tonne seaborne iron ore market as imports supplant its domestic mining industry which struggles with low-grade high cost production.
Policies to clean up and consolidate the domestic steel industry is also playing into the hands of iron ore miners elsewhere with low grade furnaces – particularly those that use scrap – being forced out of business.
Authorities are also clamping down on pollution from sintering plants, a necessary extra step when using low grade ore (domestic Chinese iron content averages only about 20%) to make steel.
In October Rio Tinto sold its stake in Guinea's Simandou iron ore to its Chinese partner Chinalco, potentially opening up a new path to development for the $20 billion project which would add as much as 100m tonnes of premium grade to the market each year.
Image: Flinders Mines
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How Goldcorp’s new COO plans to disrupt the mining industry
During this year’s Prospectors and Developers Association of Canada conference, Goldcorp’s new COO, Todd White, hosted a much-awaited event called #Disrupt Mining.
The initiative was a partnership with Integra Gold that, by using the format of a TV contest, aimed at backing innovative technologies capable of transforming the mining sector.
But White himself arrived at the conference with a plethora of new ideas on how to improve, in terms of profitability and sustainability, the operations of both Goldcorp (NYSE:GG,TSX:G) and the overall industry.
Speaking to MINING.com’s Cecilia Jamasmie, White explained that the main goals of the company’s digital transformation strategy are to increase success in exploration by relying on big data and machine learning; boost communication, response, and productivity by creating a mobile-enabled workforce; dive into autonomous mining operations; slash mining's environmental footprint by incrementing the use of renewable sources of energy and carbon neutral equipment; and to optimize decision-making processes by using advanced data collection and real-time analytics.
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En Sibérie, 7.000 bulles de méthane prêtes à exploser
Un été particulièrement chaud en Arctique a fait fondre en de nombreux endroits le pergélisol de la toundra sibérienne. Pour la première fois, des scientifiques ont pu dénombrer ces zones où le sol menace de s'effondrer, pour former un cratère, et y analyser l'air. Résultats : il faut revoir à...
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‘Perfect’ 59.6-carat pink diamond set to break records in new auction
The largest, most perfect pink diamond to have ever been offered at auction is once again going under Sotheby's hammer on April 4, with experts predicting the plum-size rock could fetch over $60 million.
The plum-size internally flawless pink gem could fetch over $60 million in Hong Kong next month.
Described as one of "the earth's greatest natural treasures", the oval-cut 59.6 carat “Pink Star” is the largest internally flawless pink diamond that the Gemological Institute of America (GIA) has ever graded.
First unveiled to the public in 2003, the rock was called the “Steinmetz Pink,” but it was renamed after it was first sold for an undisclosed sum in 2007.
In 2013, the diamond broke a new world record price for a gemstone at auction by fetching $83.2 million at a Sotheby's auction in Geneva, way above the $60 million experts had predicted.
Not long after the sale, however, rumours began to spread that the consortium of buyers, led by diamond cutter Isaac Wolf, defaulted on the deal. In February 2014, Sotheby’s confirmed those unofficial reports and said the diamond was again part of its inventory, valued at approximately $72 million.
The Pink Star is graded as Type IIa, which is rare for any pink diamond, much less one of this size. (Photo: Sotheby’s)
The Pink Star, originated from a 132.5-carat rough mined by De Beers in 1999, is more than twice the size of the 24.78-carat “Graff Pink” diamond that set the world auction record for a diamond, gemstone or jewel when it was sold at Sotheby’s Geneva in 2010 for $46.2m, the auction house said.
The pink beauty goes under at Sotheby’s hammer at its Hong Kong Magnificent Jewels and Jadeite sale.
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Étonnant : les poumons produisent des cellules sanguines
La moelle osseuse ne serait pas la seule à produire les plaquettes sanguines : d’après une étude chez la souris, c’est au niveau des poumons que se ferait la majeure partie de la production ! Les poumons fourniraient même la moelle osseuse en cellules souches… Une découverte surprenante aux...
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Donald Trump approves Keystone XL pipeline
US President Donald Trump has issued a permit to pipeline operator TransCanada (TSX, NYSE: TRP) to build its long-delayed Keystone XL pipeline, which will carry oil from Canada to Texas.
White House press secretary Sean Spicer tweeted that President Trump would discuss the pipeline later on Friday morning.
More to come…
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La réalité virtuelle met le cap vers le grand public au salon Laval Virtual
L'édition 2017 du salon Laval Virtual consacre l'émergence d'un marché grand public pour de nombreuses applications de réalité virtuelle ludiques et éducatives. Tour d’horizon.
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Le gaz naturel, vous connaissez ? Découvrez-le dans notre semaine spéciale
Utilisé pour le chauffage, la production d’eau chaude et la cuisson, le gaz naturel est une énergie fossile naturellement présente dans les sols. Quels sont ses avantages et ses inconvénients ? ses possibilités et ses limites ? ses réserves et ses alternatives depuis des sources renouvelables ?...
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ISS : Thomas Pesquet effectue sa 2e sortie dans l'espace, suivez-la en direct
À partir de 13 h aujourd’hui, Thomas Pesquet va entamer une nouvelle sortie dans l’espace, sa deuxième après le succès du 13 janvier dernier. Suivez en direct son intervention de 6 h 30 réalisée une nouvelle fois en compagnie de Shane Kimbrough. Le spationaute fera une troisième sortie...
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Dinosaures : faut-il changer leur classification ?
Ce n'est pour le moment qu'une proposition venue d'un seul groupe de paléontologues. Mais si ces chercheurs ont raison, l'arbre phylogénétique et la classification des dinosaures doivent être revus pour mieux rendre compte des relations entre oiseaux et dinosaures.
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En 2050 : l'humanité dépendra davantage des océans
Des navires de transport à la pollution en passant par la pêche, tout est à revoir dans notre gestion de l’océan. Quoi qu’il arrive, nous ne pouvons continuer de cette manière. Déjà, des solutions émergent, pour des navires moins polluants, pour réduire les quantités de déchets déversés dans les...
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jeudi 23 mars 2017
Mosaic to pay hefty fine over accident at its Colonsay potash mine
Mosaic (NYSE:MOS) will have to pay more than $85,000 after pleading guilty in Saskatoon provincial court to violating Occupational Health and Safety rules, which caused a worker’s serious injury.
The charges stem from a Feb. 7, 2014 accident at the Plymouth, Minnesota-based firm’s Colonsay mine, southeast of Saskatoon, in which a conveyor crushed an employee’s leg, CBC News reports.
Colonsay mine, located about 65 km southeast of Saskatoon, is one of Mosaic’s three Canadian potash operations.
The company was fined $61,000 plus a surcharge of $24,400 for failing “to ensure that all equipment used at the Mosaic Potash Colonsay mine was designed, constructed, installed, maintained and operated to safely perform any task for which the equipment is used.”
Last year, the firm laid off about 330 workers at the mine in response to global oversupply and soft prices. Production at the site, however, resumed in January.
The firm, the world’s largest producer of finished phosphate products, was not the only potash producer to take extreme measures last year on the back of low prices and weak demand. PotashCorp (TSX, NYSE:POT) mothballed its new Picadilly potash operation in New Brunswick, dismissing more than 420 employees. A month later, it curbed production at all of its Saskatchewan operations.
Later, Intrepid Potash (NYSE: IPI) said it would close the high-cost West Facility in Carlsbad, New Mexico, in July, affecting about 300 employees.
Colonsay mine is one of Mosaic’s three Canadian potash operations. The other two are Rsterhazy and Belle Plaine.
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Jakarta: Freeport could lose Grasberg control within 2 years
In New York on Thursday copper for delivery in May was trading slightly higher at $2.6375 per pound or $5,817 a tonne with mixed news on disruptions at the world's biggest mines pulling the metal in different directions. Copper is holding onto modest gains year to date, but is down more than 6.5% since hitting 20-month highs mid-February.
Copper has been buoyed by a strike at BHP Billiton's Escondida mine in Chile, now in its 43rd day and with no signs of ending, but top listed copper producer Freeport McMoRan's giant Grasberg mine in Indonesia this week announced copper concentrate production will be resumed following a strike at a domestic refinery in which the US company owns a minority stake after a 38-day hiatus.
Grasberg remains under a concentrate export ban as Freeport negotiates a new operating licence and ownership agreements with the Asian nation. Phoenix-Arizona-based Freeport's has been mining at Grasberg in the remote Papua province since the early 1970s and currently owns just over 90% of the iconic mine.
To complicate matters further Rio Tinto has an option for a 40% stake in the mine that it can exercise in 2023
Bloomberg on Thursday reports the change in ownership may happen more quickly than anticipated with the deputy minister of mining Fajar Harry Sampurno announcing that Freeport could lose control of the iconic mine within two years:
“We’re ready,” Sampurno said at a press conference in Jakarta on Wednesday. A local aluminum producer, PT Indonesia Asahan Aluminium, will be turned into a holding company to purchase the stake, he said. “Once the holding company is formed, they will immediately work on it.”
Freeport has been in negotiations to sell down its stake to below 50% for years, but talks with the government have repeatedly broken down over valuation. Freeport served a notice to Indonesian officials in February that allows it to seek arbitration over the terms of the new operating licence or so-called contract of work which the company says lacks certain legal and investment safeguards.
Freeport is currently operating under a temporary special licence. To complicate matters further Rio Tinto has an option for a 40% stake in the mine that it can exercise in 2023. That deal was singed in 1995, but the Australian giant is now looking at options to exit the agreement.
Freeport Indonesia has suspended capital investments at the remote mine in Papua province and reduced production to roughly 40% of normal levels. In January Freeport said for each month of delay in obtaining approval to export, the Indonesian subsidiary's share of production is projected to be reduced by approximately 32,000 tonnes of copper and 100,000 ounces of gold.
In Peru, a 1,300-worker strong strike at Freeports' Cerro Verde mine which recently underwent a massive expansion is set to end on Thursday on government orders, but the union vowed to down tools again on Friday. Workers walked off the job 11 days ago and according to the union production at the mine is running at 50% after Freeport brought contract workers onto the site.
Freeport, which vies with state-owned Chilean giant Codelco as the world's top producer of the red metal, was trading down slight on the New York Stock Exchange on Thursday affording the company a $18.5 billion market valuation. The stock is up more than 30% over the past year over optimism for the outlook of copper.
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Hyperloop : la première capsule sera construite à Toulouse
La société Hyperloop Transportation Technologies vient d'engager la fabrication de sa capsule de train subsonique. Longue de 30 mètres pour un poids de 20 tonnes, elle pourrait emporter jusqu’à 40 passagers. Ce prototype sera assemblé en France dans un centre de R&D installé à Toulouse.
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Vous pourrez bientôt tester la qualité de votre sperme avec votre smartphone
Plus besoin de vous déplacer dans un laboratoire d'analyses médicales : des chercheurs américains ont mis au point une application pour smartphone qui permet d'analyser la qualité du sperme à domicile. Une innovation qui s'avère à la fois efficace et peu coûteuse.
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BHP's Escondida mine strike becomes Chile’s longest, talks end with no deal
Talks between striking workers at Escondida copper mine in Chile and majority owner and operator BHP Billiton (ASX, NYSE:BHP) (LON:BLT), ended Thursday with the parts failing to reach a deal and the company promising a prompt resumption of operations.
The labour action at the world’s largest copper mine, which has entered its 43th day, has now become the longest private-sector mining strike in Chile’s history, local paper El Mercurio reports (in Spanish).
It still has a long way to go before matching the 74-day strike at Codelco’s El Teniente mine in 1973, which took place shortly before the military coup that overthrew socialist President Salvador Allende.
Marcelo Castillo, the mine’s president, declared talks officially over and said the company is now ready to dissolve the bargaining group and leave the negotiating table.
He added Escondida would also evaluate an option given by the Chilean labour code that would allow miners who choose to come back to work to do so under the previous contract for the next 18 months. At the end of that period, both sides would again need to try to reach a new agreement.
That option, known as Article 369, would create a complex scenario for both parties, Castillo said, as it would force Escondida to review its production structure, operating model and business strategy.
The company has already warned the long-dragged stoppage would force it to revise its operational plan, leading to a downward adjustment of its planned production volumes for the year.
Last week, Castillo warned that he would start hiring temporary workers to replace those joining the strike action, given that BHP, which owns de 57,5% of the mine, has already reported more than $712 million in losses.
Talking to MINING.com earlier this month, Chile’s Mining Minister Aurora Williams also expressed concerns about the losses caused by the strike. “We estimate that some 3,400 tonnes of copper are not being produced each day of the strike. This translates into 100,000 tonnes per month,” she said.
Since the strike began last month, is estimated that Escondida — responsible of about 5% of the world’s total copper output — has failed to produced more than 120,000 tonnes of the red metal.
While majority-owned and operated by BHP, Rio Tinto and Japanese companies such as Mitsubishi Corp also hold stakes in the mine.
Chile is the world's biggest copper producer, and sales of the metal make up for about 60% its export earnings.
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Étonnant : les araignées auraient chacune leur personnalité
D’un point de vue neurophysiologique, les araignées sont des animaux plus basiques que les souris ou d’autres vertébrés. Faut-il pour autant en conclure que leurs comportements sont entièrement déterminés par leurs gènes ? Preuves à l'appui, les biologistes américains assurent que non...
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