Anglo American CEO: “45% of the world’s economic activity is driven by the mining sector”
CEO Mark Cutifani. Credit: Anglo American
Tasked with talking about the role of mining in society as part of the opening plenary at this year’s virtual CIM convention, Anglo American
(LSE: AAL) chief executive Mark Cutifani didn’t mince words.
With a world population of 7.6 billion that’s growing toward 9 billion, “the simple fact is that the world cannot survive without mining and our contribution to literally every aspect of modern life,” Cutifani said.
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Anglo American (LSE: AAL) chief executive Mark Cutifani didn’t mince words.
With a world population of 7.6 billion that’s growing toward 9 billion, “the simple fact is that the world cannot survive without mining and our contribution to literally every aspect of modern life,” Cutifani said.
Cutifani noted that other critical sectors, including energy, food production, construction, transportation, renewables infrastructure and communications all rely on mining. “In fact, 45% of the world’s economic activity is driven by the mining sector,” he said, counting both direct commodities sales and mining’s support of other industries (including the productivity improvements that come with mechanized farming, for example).
Champion Iron reports record Bloom Lake production
Bloom Lake mine. Image by Champion Iron.
Production at Champion Iron‘s (TSX: CIA; ASX: CIA) Bloom Lake iron ore mine near Fermont, Quebec, inched upward 1% in the year ended March 31, 2021 to a record 8 million wet metric tonnes (wmt) of 66.4% iron ore concentrate – despite covid-19 restrictions that included a month of reduced operations early in the pandemic.
For its most recent quarter, production was 2 million wmt of 66.5% iron ore concentrate, up 6% from 1.9 million wmt in the year earlier quarter. The company reported free on board total cash costs of $43 per dry metric tonne, up from $40.1 per dry metric tonne in the previous period.
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Champion Iron reports record Bloom Lake production April 29, 2021
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Production at
Champion Iron‘s (TSX: CIA; ASX: CIA) Bloom Lake iron ore mine near Fermont, Que., inched upward 1% in the year ended Mar. 31, 2021 to a record 8 million wet metric tonnes (wmt) of 66.4% iron ore concentrate – despite Covid-19 restrictions that included a month of reduced operations early in the pandemic.
For its most recent quarter, production was 2 million wmt of 66.5% iron ore concentrate, up 6% from 1.9 million wmt in the year earlier quarter. The company reported free on board total cash costs of US$43 per dry metric tonne, up from US$40.1 per dry metric tonne in the previous period.