Xstrata Copper says it is now reviewing all of its operations in north Queensland due to the Federal Government's proposed tax on the resources sector.
Europe's second largest copper miner KGHM KGHM.WA has earmarked 6 billion zlotys ($2 billion) for takeovers until 2014, chief executive Herbert Wirth said on Wednesday.
KGHM, which announced a joint-venture with Abacus Mining and Exploration (AME.V) worth $37 million on Tuesday, was eyeing more projects in Canada. "We are preparing more projects. We are deeply interested in Canada," Wirth told a news conference.
We also remain focused on the regional opportunity which we believe will lead to further discoveries and the potential to produce over 100,000 tonnes of copper per annum for years to come, making it Australia's most substantial copper development opportunity outside Olympic Dam
Canada's junior explorer Hana Mining CEO Mareck Kreczmer believes his company has on its hands part of one of the largest copper and silver deposits in Africa that can rival the Zambian copper belt.
Redbank Copper says it has made a new copper discovery at its Copperado prospect in the Northern Territory.The company is exploring the prospect as part of a 50/50 joint venture with Glencore.
"He concludes that standard macroeconomic factors alone (growth, interest rates, global growth, and global financial market volatility) fail to fully explain the recent investment deceleration. He further concludes that while the importance of structural factors in explaining the recent weakening of aggregate investment is not entirely clear, at the micro level, panel data analysis suggests that improving the business environment by reducing costs of doing business, deepening the financial system, and developing infrastructure, could stimulate corporate investment."
The IMF's (2013a) recent staff report on India argues that several causes of weaker growth seem to be of a supply-side nature. The following key factors are listed as possible contributors to the recent investment slowdown:
Rising policy uncertainty. In particular, high profile tax policy decisions announced in the
2012/13 Budget have reduced foreign investors' interest in India, while the increasing
difficulty of obtaining land use and environmental permits have raised regulatory
uncertainty for infrastructure and other large-scale projects.
Delayed project approvals and implementation. As a reaction to high-profile governance
scandals, project approvals, clearances, and implementation have slowed sharply.
Supply bottlenecks are particularly pronounced in mining and power, with attendant consequences for the broader economy, especially manufacturing.
Seven new applications for approval of plans of work for exploration in the international Seabed Area were approved this morning by the Council of the International Seabed Authority as it nears conclusion of its work of the twentieth session in Kingston.
"Teck issued a statement at the request of IIROC on behalf of The Toronto Stock Exchange stating that "it is not in discussions with Antofagasta in relation to any form of transaction, and there are no other corporate developments that justify any significant movement in its share price."
Earlier Bloomberg issued an article citing unnamed sources that saying that the two miners are in early stage negotiations about a tie-up and that any agreement is dependent on the approval of the families that control both miners. "
DeepGreen Metals recently acquired Tonga Offshore Mining
Limited (TOML), giving the company exploration rights to a 75,000-square-kilometer
block of seabed believed to contain some 756 million wet tons of polymetallic
nodules.