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The Venezuelan Government has agreed to pay Canadian junior Rusoro Mining a $1.3bn settlement for the seizure of its gold projects in 2011, which breached obligations under the Canada-Venezuela Bilateral Investment Treaty. We find out what’s next for the company’s projects in the country now and how to manage resource nationalism.
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We also check in on emerging projects, including a controversial copper mine in the Arctic Circle approved by Norway and a potash project that holds promising economic potential for Eritrea.
In technology, we catch up with an IBM project exploring the use of wearable health trackers to monitor miners’ safety, and speak to biotech company BRAIN about its new BioXtractor bioleaching technology.
Plus, we speak to legal experts about the complex issue of corporate liability for mining companies with subsidiaries in different countries, and find out how countries are using unusual tax incentives to attract mining companies.
In this issue
Mining in Eritrea: could a new potash project spur sustainable growth?
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By GlobalDataA report prepared by independent consultants and initiated and funded by the United Nations Development Programme has concluded that the Colluli potash project in Eritrea has significant potential to boost the local economy whilst meaningfully contributing to the country’s sustainability agenda. We caught up with Danakali, the company behind the project, to find out more about mining in Eritrea.
Seizure and settlement in Venezuela: the story of Rusoro Mining
In March, Canadian junior Rusoro Mining accepted nearly $1.3bn from the Venezuelan government as settlement for the seizure of the company’s gold projects in 2011. The saga is a stark example of the risk firms may face when working in challenging locations, but what lessons are there to be learnt? Heidi Vella finds out.
See Also:
Artisanal mining: the dangers that come with the job
European law firm Fieldfisher has published its second overview of alternative financing solutions and their growing adoption by cash-strapped junior miners. Heidi Vella speaks to the firm to discuss the emerging and unconventional funding sources gaining traction in the market.
Home to roost: understanding corporate liability in mining
European law firm Fieldfisher has published its second overview of alternative financing solutions and their growing adoption by cash-strapped junior miners. Heidi Vella speaks to the firm to discuss the emerging and unconventional funding sources gaining traction in the market
Wearable safety technology: monitoring miners’ with IBM
International technology firm IBM has teamed up with a number of companies, using its Maximo Worker Insights platform to help in the collection of safety data, and ensuring risk-free operations. JP Casey finds out how data fed back to supervisors and safety officials can keep workers out of dangerous environments.
BioXtractor: sustainable precious metal extraction with a BRAIN
Germany-based industrial biotechnology group BRAIN has developed the BRAIN BioXtractor, which offers bio-based tech for processing precious metals such as gold and silver. But how does the technology work, and what is its potential as a facilitator of the circular economy?
Copper, fjords, reindeer and controversy: inside Norway’s new arctic mine
In February, the Norwegian Government approved construction of a controversial copper mine in Kvalsund, Finnmark, more than 400km above the Arctic Circle, despite years of opposition from indigenous Sami herders and fishermen. We look at the potential and consider the impact on the environment and local communities.
Unusual but effective: how some tax incentives are used to promote mining
Mining is an industry that demands considerable time and investment into each project, especially new operations, which can discourage companies from developing projects. Offering generous tax breaks can be an effective way for governments to encourage mining in their countries, but this incentive needs to be balanced with the potential benefits. The country needs to be able to earn its share of the company’s income. Here, we list four unique mining tax systems around the world.
Preview – MINE June 2019
Residents of 13 villages in western Guinea have filed a complaint against the IFC, the World Bank’s private-sector arm, for funding the expansion of a harmful bauxite mine. We consider whether international organisations should pay closer heed to the projects they fund.
In technology, we take a look at ABB’s new predictive software and remote operating service, MineOptimize. As well as the potential of small modular reactors for powering remote mines, weighing the pros and cons. And in a special video feature, we look at the 80 carriage train that derailed in Queensland.
Following the collapse of the Brumadinho tailings dam, the ICMM has committed to creating a binding set of global standards for the definition, construction and safe decommissioning of tailings dams. We talk to them about what these standards should include.
Finally, we ask what motivates jobseekers, talk to Bluebird Merchant Ventures about Redeveloping historic mines in South Korea and take a look at palladium as it hits an all-time high.
