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BHP and Vale Facing US$43 Million Claim for Samarco

BHP Billiton (NYSE:BHP) reported that itself, Samarco and Vale (NYSE:VALE) are facing a US$43 million claim in relation to the tailings dam failure and Samarco’s iron ore operation in Brazil last November.

As quoted in the press release:
BHP Billiton has not received formal notice of the claim.

BHP Billiton remains committed to

10 Top Nickel-producing Countries

10 Top Nickel-producing Countries

Overall, global nickel production increased slightly in 2015 compared to the previous year. Here’s a look at the 10 top nickel-producing countries from 2015, as reported by the USGS.

New Caledonia to Allow Some Nickel Exports to China

Reuters reported that New Caledonia plans to allow two companies to export nickel ore to China. The move will end a longstanding ban — New Caledonia has been resisting selling ore directly to large countries like China in order to preserve its domestic smelting and refining industry.

Millrock Announces Purchase of Chisna Copper-Gold Project, Alaska

VANCOUVER, BC–(Marketwired – April 07, 2016) –  Millrock Resources Inc. (TSX VENTURE: MRO) (“Millrock”) announces that the company has purchased mining claims comprising the Chisna project in Alaska. A 100% interest in the project was purchased by Millrock from Corvus Gold Inc. (“Corvus” or the “Company”) — (TSX: KOR) (OTCQX: CORVF) for

Samarco to Restart Production by Q4 2016

Reuters reported that the Brazil-based Samarco iron ore mine, whose tailings dam burst last year, killing 19 people, will restart production by the start of Q4 2016. Samarco is a joint venture between Vale SA (NYSE:VALE) and BHP Billiton (ASX:BHP,LSE:BLT,NYSE:BHP).

Glencore Reports $5 Billion Loss for 2015

Glencore (LSE:GLEN) reported a $5 billion loss for 2015, according to the Wall Street Journal, which makes last year one of the company’s worst ever performances. However, CEO Ivan Glasenberg was quoted as saying on a call with reporters, “Have we bottomed? I think so.”

Iron Ore Hits Highest Price in Three Months

The Financial Times reported that iron ore prices jumped to their highest point in three months on Tuesday, spurred on by seasonal restocking by China’s steel mills. Overall, iron ore is up 5 percent so far in 2015 — it’s outperformed most commodities aside from gold.

Lara Exploration Acquires Tocantins Gold Project in Brazil

Lara Exploration (TSXV:LRA) has entered an agreement with Brazil Americas Investments & Participation Mineração to acquire the Tocantins gold project in central Brazil. Lara will assume project costs going forward, and will pay Brazil Americas 50% of any proceeds from the eventual sale of the project to a third-party.

The Life Cycle of a Gold Mine: Resource Definition and The Feasibility Study

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