This week marks the start of earnings releases for mining as companies, including Atlas Copco, start posting their financial statements for 3Q. Well-known volatility in metals price is increasingly giving miners grounds to further embrace the digital revolution and innovate their operational models. Also, the call for sustainability and social responsibility keeps making the headlines as the industry is under continuous scrutiny to be as eco-friendly and socially fair as possible. Accordingly, seabed projects in the country keep getting a red-light from SEMARNAT. Finally, another violent mining episode left casualties in Venezuela.
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Altlas Copco posts second-best quarter for revenue in 3Q.
Price volatility led mining companies to reach out to new technologies to boost efficiency. The digital revolution, in turn, is transforming the mining industry.
Sustainability, Sustainability, Sustainability:
PRI Senator Manuel Añore Baños, makes a call to the Ministry of Economy (SE) and the Ministry of Environment and Natural Resources (SEMARNAT) to promote a more responsible mining industry while acknowledging the importance of mining for the Mexican economic outlook.
The Don Diego seabed mining project, by Exploraciones Oceánicas, gets another straight NO as SEMARNAT ratifies its negative ruling for the project, even after the Supreme Court of Justice over-ruled the first judgment.
Bumps and Setbacks:
Venezuela’s Mining Arc endured another massacre this week after the killing of 15 miners in the Tumeremo Massacre in 2016 and the assassination of 13 people last August. According to opposition leader Américo De Grazia, 16 people died and six were injured after the clash of two criminal bands for the control of Los Candados gold mine.
South African mining is falling more than expected with production slumps for iron, gold and platinum group metals.
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