IRON and STEEL
Mining Machinery & Equipment
Outotec has finalized the negotiations with employee representatives announced on October 26, 2017 to outsource its German-based project engineering function to Citec. As a result of the negotiations, 59 Outotec employees have transferred to Citec as of April 1, 2018.
Citec is a global engineering company providing multi-discipline engineering services to the energy and other technology-dependent industries. The outsourcing will not have an impact on Outotec's financial guidance for 2018.
"By outsourcing part of our engineering activities, we create more flexibility to our organization and decrease Outotec's fixed costs in the long run. Citec is a suitable partner for us as they have already presence and an existing customer base in Germany and Finland, and excellent references", says Kalle Härkki, Head of Outotec's Metals, Energy & Water business.
Delrey Metals (CSE: DLRY) signed a non-binding term sheet this week with respect to the right and option to acquire an 80% interest to certain mineral licences that comprise the Four Corners project in western Newfoundland, Canada.
Wheaton Precious Metals, (TSE: WPM) one of the largest precious metals streaming companies in the world, announced record gold production and sales in 2018 and declared a $0.09 per share first quarter dividend for 2019 on Wednesday.
Secova Metals (TSXV: SEK) acquired this week 100% interest in 3,809 hectares of vanadium mineral claims located in three land packages in the eastern Canadian province of Quebec.
Financing for global mining and exploration lost momentum in 2018 with equity markets in particular shunning the metals and minerals sector according to a report released on the eve of mining's biggest annual gathering in Toronto, Canada.
Canada’s mining ministers, with the exception of those from Ontario and Saskatchewan, made public on Sunday the Canadian Minerals and Metals Plan or CMMP, which is expected to guide priority areas for the sector in the coming years.
An indigenous community in Peru has blocked Chinese miner MMG Ltd from using a road to transport copper from its massive Las Bambas mine to a port for shipment for the past 10 days, a lawyer representing the community said Friday.