Miner and commodities trader Glencore (LON:GLEN) is buying 26.73% of the voting shares in Peru's largest zinc producer, Volcan Compaa Minera SAA, in a deal worth at least $531 million. The Swiss company will pay $1.215 per class A common share, which will help it boost its current 7.68% interest in Volcan and which could cost Glencore as much as $956 million, depending on the level of acceptances. After the closure of the deal, Glencore — already one of the world’s top zinc producers — will...

Source: Guardian, Mining.com (2020-04-14) These articles, outlining President Trumps' enthusiasm for pursuing mining unilaterally in space, is a reminder of the similarities with deep sea mining (where the US is also an outlier in international law, as is has not acceeded to the UN Convention on the Laws on the Sea - UNCLOS). As with all mining speculation the actual intent to mine is less important than the financial (& legal) industry that springs up to make money out of the idea of doing...

Australia-based MMG has withdrawn its 2020 production forecast for Las Bambas, one of Peru’s largest copper mines, after the South American country extended a state of emergency last week to slow the spread of coronavirus. The company, majority-owned by state-run China Minmetals Corp, said the copper mine would continue to operate at reduced levels, but did not provide a new full-year output guidance. “The transport of concentrates has been suspended, and the movement of people and critical...

Copper giant Freeport-McMoRan (NYSE:FCX) said on Monday that its Cerro Verde mine in Peru was operating, though limited by the government’s extension of a state of emergency to slow the spread of coronavirus. The world’s largest publicly traded copper producer had temporarily placed the mine into care and maintenance last month to comply with national measures aimed at containing the spread of covid-19. It has been in talks with the Peruvian government since then to resume limited operations,...

Image courtesy of Canadian Malartic.) Canada’s Yamana Gold (TSE:YRI) (NYSE:AUY) announced on Monday it would sell shares and warrants in smaller producer Equinox Gold for C$201 million (about $144m). The Toronto-based gold miner said it planned to sell 12 million units, at C$10 each, with the help of Stifel GMP and Cormark Securities. Each unit consists of one common share of Equinox Gold (NYSEMKT:EQX) owned by Yamana and one-half of a purchase warrant of Yamana. Stifel and Cormark have...