Australia's Whitehaven Coal will cut a total of 192 jobs at the Daunia and Blackwater coking coal mines it took over from global miner BHP Group , the firm's spokesperson said on Friday.
A strike at mining giant BHP's huge Escondida mine in Chile entered its third day on Thursday, bolstering global copper prices as an ongoing standoff between the company and workers starts to spread worries about supply of the red metal.
BHP, the world's biggest mining company, is facing a costs squeeze on both sides of the Pacific from organized labor at its mines in Australia and Chile.
Workers at BHP's Escondida copper mine in Chile will go on strike starting on Tuesday after failing to reach an agreement with the company, according to a statement from the union.
BHP Group , the world's top miner, is mulling a sale of Brazilian copper and gold assets it took over as part of the buyout of smaller peer Oz Minerals, Bloomberg News reported on Wednesday, according to people familiar with the matter.
Mining giants Rio Tinto, Anglo American and BHP Group were all downgraded after a gauge monitoring sector demand flashed a strong 'sell' signal. The 'restocking indicator' from broker Panmure Gordon reported its weakest signal since mid-2022, with a turnaround after a long bull run.
Workers at BHP's Escondida, the world's largest copper mine, rejected an offer for a new collective bargaining agreement, setting the stage for a potential strike, the union said on Thursday.
Mining M&A is heating up with strategic moves to consolidate operations and strengthen market positions in the copper and gold sectors. Two big announcements in the last week of July could indicate that miners are on the hunt for good projects.
Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties.
Global miner BHP Group and Canada-listed Lundin Mining will takeover explorer Filo Corp for C$4.5 billion ($3.25 billion), the companies said on Monday, as they move to progress the Filo del Sol and Josemaria projects.
The union at BHP's Escondida mine in Chile, the world's largest copper mine, has called on its nearly 2,400 members to reject a final contract offer from the company and prepare for a strike, the union president said.
Although a somewhat controversial investment category, the bullish case for the best uranium stocks has become extraordinarily compelling. It all centers around one catalyst: rising energy consumption from advanced technologies, particularly artificial intelligence.