Minister of Industries, Mining and Trade Mohammad Shariatmadari said only half of Iran’s active industrial units are operating above 50% of their capacity.
Nevertheless, the minister added that applications to set up new industrial units registered a 23% increase during the nine months to Dec. 22, 2017, compared with the previous year’s corresponding period, Financial Tribune’s sister newspaper Donya-e-Eqtesad reported.
Shariatmadri believes high bank interest rates have greatly disturbed the production sector, as profits made in industrial units are low compared to the interest rates.
Australia’s largest gold producer, Newcrest Mining (ASX: NCM) has upped its holdings in Ecuador-focused explorer SolGold (LON, TSX:SOLG), which is developing the Cascabel copper-gold project in the country’s north.
NMDC has reduced base prices in Karnataka e-auctions by INR 200/MT in fines & INR 100/MT in lumps for Dec’18.
In a series of talks that took place within the COP24 summit in Katowice, Poland, defenders of the circular economy highlighted the importance of including mining of rare earth metals into their discussions.
The Turquoise Ridge underground mine is seen by the new Barrick as one of the assets with "high potential" to become Tier 1. Barrick is the operator and 75% owner of the Nevada-based mine. Newmont Mining owns the remaining 25%. (Image courtesy of Barrick Gold.)
Odisha Mining Corporation (OMC) succeeded in drawing an encouraging response at its latest round of auctions of iron ore lumps on December 3, SteelMint learned from market participants.
Canada's Excelsior Mining gave final approval Friday to start construction on the Gunnison copper mine in Arizona after closing on US$75 million in financing for the project.