Top diamond producer De Beers SA expects to cut back output at its two new Canadian mines by 10 to 20 per cent because of a recent drop in demand, De Beers Canada Inc. chief executive officer Jim Gowans said Tuesday.read more »
The value of Chile's copper exports was $2.692 billion in October, down 28.6 percent from the same month last year, central bank figures showed on Monday.read more »
A few weeks ago I suggested the biggest gains will accrue not to the strong, but to the weak who get strong to avoid perishing. Surprises can and will happen in this market, both to the upside and downside. I expect we’ll see spectacular failures and successes.read more »
North America’s economic crisis continues to take its toll as Stillwater Mining and the Snap Lake diamond mine will undergo job cuts, following on from yesterday’s news that Freeport-McMoRan has already eliminated 600 U.S. mining jobs.
Mining and construction equipment giant, Caterpillar, is confident about long term growth in minerals and metals, and for its equipment sales, while happy with this year’s profitability.
The future of the electric car could depend on the lithium production generated from what is said to be the world’s largest lithium reserve in Bolivia’s Salar de Uyuni. The government is to fund a state-owned pilot project.
Mining Field: ElectricalArea: Power Consumption (Rule#449)
The scale up factor for the power requirement at an underground mine is 1.85 for a doubling of mine capacity.
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