Marie Inkster, Chief Executive, Lundin Mining Corp, told Reuters this week, that the firm is looking to purchase more mining assets. The news comes after the firm announced its acquisition of Yamana Gold’s copper-gold colliery from Brazil. Reportedly, this deal was finalized for over $1 Billion.
Inkster proclaimed that the Toronto-based firm is looking for a venture where exploration is fulfilled. She added that the firm would prefer to purchase copper assets. However, it would as well consider a zinc poly-metallic mine, with nickel a remote 3rd option. In an interview, Inkster proclaimed that the firm’s leverage will still be extremely low as it closes this agreement, and the firm has great collieries that are cash flowing. However, she highlighted the scarcity of copper assets right now.
On a similar note, recently the Supreme Court announced a ban on all mining works along the Kaziranga National Park, as well as catchment regions of rivers that begin in Karbi Anglong Hills, Assam. A bench comprising Justices Deepak Gupta and Arun Mishra released a notice to the Assam Government. They sought its reply within a three weeks period.
In an order uploaded on the top court’s website this week, the bench stated that all types of mining and associated activities along the aforementioned Kaziranga National Park region are restrained. It as well added that such activities in the whole catchment region of streams/rivers and rivulets starting in Karbi Anglong Hill ranges and moving into the Kaziranga National Park and Tiger Reserve are as well restrained. The order adds that new construction should not be allowed on lands that form area of the nine specified animal corridors. The court as well directed the Assam director general of police to make sure the order compliance and avoid any unlawful mining in the area.
Alberto Strayer is World Industry Insights editor-in-chief. He is responsible for all business related editorial products. Alberto years ago, he joined World Industry Insight as a senior staff writer. Alberto spent the initial decade of his career with the publication covering business. Due to his efficiency and eye for detail, Alberto achieved the best performer of the year for consecutive 2 years. Alberto earned a Bachelor’s Degree in magazine production and editing. He loves to travel and explore the world in his free time.