22 November 2023
22 November 2023
Australia’s “same job, same pay” bill has raised concerns for mining companies like BHP that the bill would increase costs and reduce Australia’s investment opportunities.
MMG expects the deal to be “immediately earnings accretive” and will pay for it using shareholder loans and third-party financing.
The company has already invested $5.7bn to convert the Chuquicamata open-pit mine into an underground project.
The combined company will own and develop the El Domo-Curipamba copper-gold project, covering more than 135,000 hectares (ha).
The steel from the project will be exported to Asia, where it will be recycled into wire, bar and beam products.
The company has also completed a placement to raise a total of A$4.80m (before costs).
Coeur will pay about $25m in cash and future royalty on specific ounces found on the acquired concessions.
Australian mining company Centrex’s phosphate exploration in Banaba has islanders worried that their homeland will be destroyed again.
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The AI theme is extremely prominent in mining, with companies desperate to find new methods to improve productivity and minimize costs, while also finding new sources of minerals. AI is already playing a big role; however, its influence will only grow in the years to come. AI enables mining companies to use autonomous machinery and data to improve efficiency and productivity and reduce downtime. AI can help companies better understand the environment and terrain where exploitation is to begin.
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