As the first half of 2018 came to an end, listed companies have started to release their quarterly and half year results and many were pleased to announce a rise in production. On a more global perspective, Chile continues to worry about the labor conflict in Escondida, the biggest copper mine in the world, and the rise of copper thefts in the country.
The interview of the week highlighted Agilent Technologies’ outlook in the Mexican mining industry and the role it strives to play in the sector.
Find out more in this week’s news roundup below:
McEwen mining released its consolidated production report for 2Q18 and reported a new Preliminary Economic Assessment study “on the potential restart of production from the El Gallo Complex at some point in the future.”
Fortuna Silver reported a production of 2.3 million ounces of silver and 14,557 ounces of gold in 2Q18. The company has two operating mines in LATAM: the San Jose Mine in Mexico and the Caylloma Mine in Peru.
Sierra Metals also released its 2Q18 report and achieved “the highest level of consolidated quarterly ore throughput to date.” The company expects its Bolivar mine to reach 3,500t/d by the end of the year and Cusi to increase to 1,200t/d in early 2019 thanks to the addition of another ball mill.
The rise of bitcoins caused financial analysts to debate its ability to replace gold as a safe-haven for investors but the mining industry is retaliating through gold-backed cryptocurrencies.
Out of concern for its economy, the Chilean government is asking both workers and BHP to put an end to the labor conflict in the world’s biggest copper mine, Escondida.
Chile also found that about 40 incidents of robberies were reported in the first half of 2018, a steep rise from the mere six in all of 2014 thanks to the rising price of copper.
For the first time in a decade, Argentinian authorities released results from a census that took place in 2016 about its mining industry.
Scientists are using gold particles to light up defects inside 3D printed parts.