Posts Tagged ‘worlds biggest copper gold mine’

The world’s 40 biggest mining companies listed here in an infographic

Wednesday, June 15th, 2016

Coal-mining-machinery image www.www-globalcommodities.com

PwC’s latest report into the performance of the world’s 40 largest mining companies shows just what a watershed year 2015 was.

The management consultants’ Mine 2015 report shows the top 40 companies suffering their first collective net loss in history ($27 billion), a decline in collective market capitalization of 37% (to below half a trillion dollars from a peak of $1.6 trillion in 2010), the lowest return on capital ever, asset impairments totalling $53 billion (for a total of nearly $200 billion since 2010), record high leverage of 46% and operating expenditure cuts of $83 billion.

The entries, re-entries and movements up and down the ranking also provides insight into the changing landscape of global mining.

The authors point out that the market capitalization threshold for attaining Top 40 status remained consistent at $4.5 billion despite “the huge decreases in value of the top mining companies, and demonstrates that the new entrants are catching up.”

A lithium miner joins top ranks of listed mining firms for the first time as the price of the battery ingredient skyrockets

China is featuring more heavily. All four companies admitted to the list for the first time was from China, pushing out Canada’s First Quantum and Teck Resources. China now provides 12 of the top 40 listed mining firms versus six from Canada despite one Chinese firm dropping out.

Gold’s changing fortunes saw AngloGold Ashanti re-emerge in the ranking for the first time since 2013 although other top gold producers Goldfields and Kinross haven’t made it back onto the list. When grouped by primary commodity mined gold producers still lost a combined $12 billion in market value.

The only sector to show an increase in market value was rare earths with the world’s top producer of the 17 elements jumping 23 places in the ranking. Another technology mineral is showing up for the first time.

Even though it’s early days for the lithium boom, the Top 40 has already welcomed its first miner of the battery raw material. Sichuan Tianqi Lithium enters as the world’s 31st most valuable miner helped by a doubling of the price of lithium carbonate just over the final months of 2015 and predictions of explosive growth in demand spurred by the electric vehicle and mass grid storage market.

SPP

Henry Sapiecha

It must be pointed out that this list is for 2015 & may not represent an accurate current status in 2016

top-40-2015-mining-companies-infographic image www.www-globalcommodities.com

 

 

Canada approves world’s largest copper-gold mining project

Saturday, December 20th, 2014

Copper & Gold ore of 130,000 tonnes per day over a mine life of 52 years

KSM-Mitchell-looking-SE-canada copper gold image www.www-globalcommodities.com

Canada’s minister of the environment on Friday gave the green light to Seabridge Gold’s KSM project in British Columbia, the world’s largest undeveloped gold-copper project by reserves.

The joint harmonized federal and provincial environmental assessment process took nearly seven-years and KSM is only the second metal mine in five years to receive approval by Canada and BC.

Since 2006, Seabridge has spent more than $176 million in exploration, engineering and environmental work to bring the project this far.

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Seabridge Gold plans combined open-pit and underground gold copper silver and molydenum mine in the Kerr, Sulphurets, and Mitchell Creek watersheds located approximately 65 kilometres northwest of Stewart, BC and roughly 35 km northeast of the Alaska border.

The deposit boasts 38.2 million ounces of gold, 9.9 billion pounds of copper, 191 million ounces of silver and 213 million pounds of molybdenum provable and probable reserves.

The mine is expected to process 130,000 tonnes per day of ore over an anticipated mine life of 52 years.

KSM forecasts 1,800 direct and 4,770 indirect jobs across Canada during the five-year construction period and 1,040 direct jobs annually while in production.

During construction, Seabridge will spend $3.5 billion in British Columbia and $6 billion in Canada. Over the life of the mine’s operations, more than $400 million in GDP will be produced for British Columbia and more than $42 billion for Canada.

Seabridge Gold holds a 100% interest in several North American gold resource projects with its Courageous Lake gold project located in the Northwest Territories its principal asset outside KSM.

project & construction finance banner image www.money-au.com (3)

Henry Sapiecha

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