Minister of Industries, Mining and Trade Mohammad Shariatmadari said only half of Iran’s active industrial units are operating above 50% of their capacity.
Nevertheless, the minister added that applications to set up new industrial units registered a 23% increase during the nine months to Dec. 22, 2017, compared with the previous year’s corresponding period, Financial Tribune’s sister newspaper Donya-e-Eqtesad reported.
Shariatmadri believes high bank interest rates have greatly disturbed the production sector, as profits made in industrial units are low compared to the interest rates.
Private capital tracker Preqin says in an update that contrary to expectations, 2018 was another bumper year for the industry, particularly for natural resources investments.
Mark Bristow’s tenure as boss of the world’s biggest gold miner might have been short-lived, but his message for smaller rivals just got even more pointed.
A coal mine roof collapse in northwest China's Shaanxi province killed 21 miners on Saturday, the state-run People's Daily reported on Sunday.
Canada’s Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) has increased its stake in its Ity gold mine in Ivory Coast to 85% from 80% by buying shares in the operation from a local company owned by former soccer star.
Newmont Mining Corp, the world's No. 2 gold producer, is cutting 120 jobs at its Carlin mining operation in Nevada after deciding to reduce the life span of one mine and suspending part of another due to a wall slide, a spokesman said on Thursday.
Acacia Mining (LON:ACA), the Tanzanian gold producer dealing with an ongoing dispute with the country’s administration, received a fresh blow on Thursday from the country’s government, which fined the miner 300 million Tanzanian shillings (about $129,144) over allegations of breaching environmental rules by its North Mara operation.