Rio Tinto stands to win from Rusal sanctions

MINEX Forum | April 10, 2018
img0 Rio Tinto will be among the biggest winners from the U.S. sanctions imposed on Russian aluminium giant United Company Rusal as the penalties further shake up the global metals trade and boost costs for U.S. consumers, industry sources said on Monday. The United States on Friday imposed the sanctions against businessmen, companies and government officials ...

A withhold up in Mongolia?

MINEX Forum | April 10, 2018
img0 Summary Governments of mining countries are vulnerable to investors using double tax agreements (DTAs) as a means of avoiding paying taxes. DTAs are bilateral, or multilateral agreements between countries that set out which country has the right to collect tax on different types of income. Interest expense on foreign loans is one such source of ...

Kinross Gold not affected by the U.S. sanctions against Russian companies

MINEX Forum | April 10, 2018
img0 Canadian miner Kinross Gold (TSX:G) (NYSE:KGC) issued a press release today stating that its mining operations in Russia continue to function according to plan and remain unaffected by the new sanctions announced by the United States on April 6, 2018. Despite analysts predicting that, given how wide his reach is, sanctions against Deripaska may cause a turmoil ...

Amulsar construction update

MINEX Forum | April 10, 2018
img0 Lydian continues to advance all major construction objectives and operational readiness activities are underway at its 100%-owned Amulsar Gold Project in Armenia. With estimated average annual production of 225,000 gold ounces over an initial 10-year mine life, Amulsar will be among the most significant new gold mines to start operations this year. Engineering and procurement ...

Tragic accident at the Mindeli coal mine

MINEX Forum | April 10, 2018
img0 The President of Armenia Serzh Sargsyan has offered his deep condolences to President Giorgi Margvelashvili and the Georgian population over the tragic accident at the Mindeli coal mine in western Georgia that has claimed the lives of six and injured three. Armenian Prime Minister Karen Karapetyan has also offered his condolences to Georgian Prime Minister Giorgi ...

Current mining mess and the way forward

MINEX Forum | April 10, 2018
img0 Goans especially those who were travelling into and around Panaji got a rude jolt on March 19 when they were stuck up in traffic jam due to the mining dependents’ agitation. The protest paralysed vehicular traffic along the national highway for hours in which several school children, commuters and tourists were stranded. In an order ...