Hot News in this Week
Apr 11, 2025
In Panama, the Cobre Panama copper mine has been shut down for 18 months due to a supreme court ruling, resulting in the loss of 54,000 jobs and $1.8 billion in fiscal contribution in 2023. Despite efforts to preserve the $10 billion investment, the mine's operator, First Quantum Minerals, is considering exporting pulverized rock as building material or beach sand. Local communities are resorting to informal mining, and organized crime groups from Russia and China are infiltrating unauthorized mining in the area. The Panamanian government has been criticized for its handling of the situation, and the mine's closure may affect the impartiality of any analysis of the Cobre site.
Source: www.mining.com
NMMC, the world's fourth-largest gold producer, saw a slight increase in production during Q1 2025 with output of 753,500 oz, while its production value doubled to $2.1 billion due to rising gold prices. The company also achieved cost savings of $61 million through production optimization efforts and invested $118.4 million in capital expenditures for expansion and development projects.
Source: www.mining.com
Global uranium supplies are at risk of running dangerously low by the end of the century due to lack of investment in exploration and mining, according to the latest report from the Nuclear Energy Agency (NEA) and the International Atomic Energy Agency (IAEA). Without increased investment, the nuclear industry could face a major fuel shortfall by 2080, posing a threat to climate goals and digital economies' carbon-free power.
Source: www.miningfeeds.com
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