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.
Brazil's mining agency (ANM) has ordered Vale (NYSE:VALE) to suspend operations at its Fabrica and Vargem Grande complexes, as part of an ongoing crack down following last month's deadly dam break at the iron producer’s Corrego do Feijão mine.
Construction of Sirjan-Kerman Railroad kicked off on Monday. The project will cost 889 billion rials ($7 million) and take 30 months to complete, the CEO of Golgohar Mining and Industrial Company, located in Sirjan, said.
The new President and CEO of Barrick Gold (NYSE:GOLD)(TSX:ABX), Mark Bristow, said the company wants to strengthen its partnership with the government and local communities of Papua New Guinea where the Porgera gold deposit is located.
The world’s largest new copper mine rumbled to a start this week in the Panamanian jungle, poised to supply a global market that’s tipping into deficit and gives First Quantum Minerals Ltd. a chance to prove its $10 billion investment was worth all the trouble.
The future holds a changing landscape for miners’ skillsets in Australia. A vast 77% of mining jobs will be enhanced or redesigned due to technology within the next five years, an EY report for the Minerals Council of Australia on the Future of Work in Mining released today reveals.
Australia’s largest gold producer, Newcrest Mining (ASX: NCM) is selling its Séguéla gold project and its portfolio of 11 exploration tenements in Côte d’Ivoire to Canada’s Roxgold (TSX: ROXG) in a deal valued at $30 million.