Why are the big ASX mining share prices slipping today?
Lucas Radbourne | April 12, 2021 10:48am |
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Fortescue Metals Group
Limited(ASX: FMG) are in the red today.
However, the share prices of all three major iron ore miners have slipped by less than 1% at the time of writing.
Moody’s Investors Service analysts expect the global metals and mining industry’s earnings before interest, tax, depreciation and amortisation (EBITDA) to increase 30% through early 2022. But S&P Global reported the market value of all three miners fell through March.
BHP’s market capitalisation fell by 8.5%, Rio Tinto’s fell by 10.6%, and Fortescue’s fell by a substantial 17% from February to March. The
Board changes at Ivanhoe s Kamoa Copper miningnews.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miningnews.co.za Daily Mail and Mail on Sunday newspapers.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “progress”, “negotiations”, “imminent”, “continue”, “discussion”, “expect”, “will”, “would”, “remain”, “future” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: the statement released by Papua New Guinea Prime Minister James Marape announcing an imminent agreement to reopen the Porgera mine; the status of discussions with the government of Papua New Guinea to reopen the Porgera mine and resume production in line with the agreement in p
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Porgera Mine Set to Restart as PNG and Barrick Niugini Limited Agree New Partnership
Barrick Gold CorporationApril 9, 2021 GMT
PORT MORESBY, Papua New Guinea, April 09, 2021 (GLOBE NEWSWIRE) The Porgera gold mine is on track to resume operations later this year after the Papua New Guinea (PNG) government and Barrick Niugini Limited (BNL) agreed on a partnership for its future ownership and operation. Porgera has been on care and maintenance since April 2020 when the government declined to renew its special mining lease.
Under the terms of a binding framework agreement signed here today by Governor General Sir Bob Dadae and Barrick Gold Corporation President and Chief Executive Mark Bristow, ownership of Porgera will be held in a new joint venture owned 51% by PNG stakeholders and 49% by BNL. BNL remains the operator of the mine.
By Reuters Staff
3 Min Read
MELBOURNE (Reuters) -Barrick Gold Corp has reached a deal that gives the Papua New Guinea government a majority share in the Porgera gold mine as part of plans to restart operations, the company said on Friday.
The deal will set a benchmark for further resources projects in the region, Prime Minister James Marape said in a statement, and help shape the terms of new developments by the likes of Australian gold miner Newcrest Mining.
Porgera has been shut for a year after a dispute over the terms of benefit-sharing between the operator, landowners and the government but the new framework pact paves the way to resume operations although it gave no timeframe.