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Mega-mergers will bring short-lived glory if miners ignore innovation — opinion

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Market signals are already showing troubling signs of this shift in the sector. While Canada’s GDP saw a 0.3% lift in January, which was the biggest gain in eight months, this dramatic uptick didn’t spill over into every industry. Mining still felt the pinch in a time where miners globally are revelling in rebounding commodity prices and company profits. This should be no surprise since Canada’s share of international exploration has dwindled to 13.8% in 2017 from 20.5% in 2008, according to the Mining Association of Canada.

Chile’s first floating PV project reaches completion

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French floating PV specialist Ciel&Terre and Chilean integrator Lenergie have jointly deployed a floating PV array at a copper mine owned by multinational mining company Anglo American. The solar system is expected to generate up to 153 MWh of electricity per year to cover part of the site’s energy needs, while also helping to reduce water evaporation at the pond. According to Ciel&Terre, Chile is known for severe water evaporation, which is a factor that can complicate mining processes.

SolGold scores again at Cascabel project

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Ecuador-focused miner SolGold (LON, TSX:SOLG) said drilling at its Cascabel copper-gold project in the country’s north has revealed previously unknown mineralization, further increasing the size of one of the biggest copper discoveries of recent years. Together with the high-grade find, over 1.5% copper equivalent, the company has also detected mineralization within the inferred resource area at the Alpala resource, as well as some medium grade mineralization of between 0.7% copper equivalent and the high-grade threshold of 1.5%.

Chile's Codelco to boost production at El Teniente copper mine

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Chile’s state miner Codelco, the world’s No.1 copper producer, plans to boost production at its El Teniente mine to more than 500,000 tonnes per year by 2025, a first in the operation’s history. As part of the plan, Codelco — which hands over all of its profits to the state — aims at raising the annual surplus generated by the El Teniente division by 20%. Currently it contributes about $1 billion.

Antofagasta secures funding for Los Pelambres expansion project

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Management at Chilean miner Antofagasta Plc. (LON: ANTO) was able to secure this week full funding for the expansion project of its flagship Los Pelambres copper mine. The operation, located about 200 kilometres north of Chile's capital Santiago is responsible for about half of the company’s total copper output, which this year is expected to be somewhere between 750,000 and 790,000 tonnes of the red metal.

Industry funds foster METS collaboration

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Industry growth centre METS Ignited celebrated the awarding of its third round of collaborative in early March. The primary aim of the funding was to offer several mining equipment, technology and services (METS) companies the opportunity to drive collaboration and commercialisation of their various projects. Seven promising recipient companies were awarded a collective $4.1 million in all to this end.
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