A draftbill to ban the construction of upstream tailings dams in Brazil could driveup costs at iron ore major Vale SA and threaten jobs, Bloomberg News reported,citing the company's general counsel Clovis Torres. The proposal, which alsoaims to tighten supervision at existing waste storage sites in Minas Geraisstate, cleared one commission and is on its way to the state assembly.
Kyrgyzstate-run gold firm Kyrgyzaltyn, which owns a 33% interest in , votedagainst the latter's proposed US$1.1 billion acquisition of ,arguing the move would dilute its holdings, Reuters reported.
ThePhilippine government ordered the suspensionof two nickel mines in Zambales province operated by BenguetCorp Nickel MinesInc. and Zambales Diversified Metals Corp. due to complaints of environmentaldegradation, Reuters wrote, citing Leo Jasareno, director of the Mines andGeosciences Bureau. The country also plans to impose a one-month ban on newexploration projects as authorities conduct their review of all existing mines,mining minister Regina Lopez said.
*Codelco is lookingat possibly forming joint ventures with the private sector or even downsizingas it tries to cope with low copper prices, FinancialTimes reported.
*Separately, Codelco is investingapproximately US$1.5 billion in modernizing its smelters and refineries tocomply by 2018 with a new regulation that sets higher limits on emissions ofparticulate material, sulfur dioxide, arsenic and mercury, Pulso reported.
*The management of Codelco's Chuquicamata division is reportedly mullingover reducing its workforce by 230 and shutting down two copper anodeloading circuits, union leaders told ElMercurio de Calama.
*France's Eramet isseeking newpartners for the WedaBay nickel project in Indonesia as its two Japanese partners left,Reuters reported.
*Trevali Mining Corp.achieved commercialproduction at its Caribou zinc mine located in the Bathurst Mining Camp inNew Brunswick, Canada, effective July 1.
*Tiger Resources Ltd.is looking into theeconomic viability of producing cobalt at its Kipoi project in the Democratic Republic ofCongo.
*Centamin Plcwitnessed a 30% year-over-year increase in gold production in the second quarter asannual throughput at the Sukari mine in Egypt exceeded the company's forecast of11 million tonnes per annum. Total gold production for the quarter rose to140,306 ounces from 107,781 ounces in the second quarter of 2015, withquarterly throughput climbing to 2.9 million tonnes from 2.7 million tonnes.
* SaracenMineral Holdings Ltd.'s gold production in its fiscal 2016 reacheda record total of188,656 ounces, near the upper end of its revised guidance for the year ended June 30.
* RameliusResources Ltd. produced 110,839 ounces in its fiscal 2016, exceedingguidance of 110,000 ounces for the year ended June 30. Production in the Junequarter was also over the 28,000-ounce to 32,000-ounce guidance as output fromits Western Australian operations hit 32,752 ounces.
* NewmontMining Corp. will consider hikingits dividends amid the gold price rally and as its asset sales put it ahead ofschedule on its debt-reduction target, Bloomberg News reported.
* KidmanResources Ltd. the A$3.5 millionacquisition of theMount Hollandgold-lithium project in Western Australia, which is expected to become thecompany's second producing asset alongside the Burbanks gold mine.
* TimpetraResources Ltd. signed binding terms sheets to buy three New South Wales,Australia, based businesses for the breeding, growing and supply of premiumMurray Cod to wholesalers and restaurants and export markets.
* International Goldfields Ltd. the deal for acquisition of an85% interest in Uruguay-based WinterGarden Bioscience to as key conditions failed to besatisfied before the May 31 due date.
*Data compiled by Bloomberg News showed that goldholdings in bullion-backed exchange-traded funds rose to 2,001.4 tonnes July6, climbing past the 2,000-tonne mark for the first time in three years, asinvestors continue to seek havens amid uncertainties caused by Brexit andspeculation that the U.S. interest rates will not rise anytime soon.
*According to Business Day, SouthAfrica's Association of Mineworkers and Construction Union is demandinga basic salary of 12,500 South African rand ahead of wage talks with platinumproducers after the pay deal between the union and mining companies , andImpala Platinum HoldingsLtd. expired at the end of June.
*Alpha Natural ResourcesInc. has reached a deal on its reorganization plan that will likely carry it out ofbankruptcy court protection. The plan includes deals with various federal andstate agencies as well as funds controlled by the United Mine Workers ofAmerica and will become effective as Alpha emerges from Chapter 11 bankruptcyin late July.
*According to Reuters, the European Commission has openeda probe to investigate whether Russia, Brazil and three other countries areflooding the bloc with cheap hot-rolled flat iron and alloy and non-alloy steelproducts. The investigation will focus on the period from July 1, 2015, to June30.
*BBC News reported that Tata SteelLtd. will furtherdelay the decision on Port Talbot's future but will proceed to sell some ofits specialty businesses in Britain.
*Fitch Ratings has removed the watch evolving rating from and assigned it a stableoutlook.
*After a two-year break, the Zaporizhzhya Production Aluminium Plant in Ukraineseeks to resumeoutput of aluminum rods in August, delo.ua reported.
*Spanish contractor Duro Felguera has fileda new A$67 million claim against Samsung C&T, the lead contractor on theRoy Hill ironore project in Western Australia, over unpaid bills, The West Australian wrote. Duro Felguera also said it has withdrawnsupport for any ongoing work obligations at the project.
*Peregrine DiamondsLtd.'s preliminary economic assessment study for developing theCH-6 and CH-7 kimberlite pipes on the Chidliak diamond project in Nunavut it as a "high margin,ten-year, open-pit mining project with very attractive economics." Thephase one diamond development of the kimberlite pipes will initially produce froman open pit at the CH-6 kimberlite pipe followed by production from the CH-7kimberlite pipe.
*StratMin Global ResourcesPlc entered into a conditional sale and purchase agreementto sell its 93.75%stake in the capital of GraphmadaMauritius to BassMetals Ltd. for up to A$15.3 million. Bass will pay a combinationof cash, shares and a net smelter royalty.
*Sayona Mining Ltd. isnegotiating itsoption-to-purchase agreement with Brasil Graphite SA over the latter'sItabelagraphite project in Brazil. The companies' deal has expired, and Sayona is nowlooking to extend and restructure the option agreement.
* Ina recently released report, EY urgedmining companies to enhance focus on reducing costs, improving productivity andstrengthening balance sheets in light of recent events that have increaseduncertainty in the sector, such as Brexit and the Australian election, The Australian Financial Review reported.
The Daily Dose is updated asof 7 a.m. Hong Kong time, and scans news sources published in Chinese, English,Indonesian, Malay, Portuguese, Russian, Spanish, Thai and Ukrainian. Someexternal links may require a subscription.