- Write by:
-
Monday, April 6, 2020 - 12:01:56 PM
-
1026 Visit
-
Print
Mining News Pro - Rio Tinto has enforced a force majeure on copper cathode contracts for the Kennecott mine in Utah, the United States, after an earthquake last month caused an emergency shutdown at the smelter.
According to Mining News Pro - Force majeure is a contractual clause which absolves the relevant parties from honouring the terms of the contract due to an extraordinary event or circumstance beyond their control.
Rio Tinto stated that it had decided to declare force majeure on Kennecott shipments after a 5.7-magnitude earthquake impacted the operations on March 18.
“We are working to restart Kennecott’s smelter after the emergency shutdown in response to the earthquake and working with our customers to minimise any disruption in supply,” a Rio Tinto spokesperson said.
Rio Tinto produced 186,800 tonnes of copper at the Kennecott smelter near Salt Lake City last year, which also produces gold and silver as byproducts from its operations.
In December, Rio Tinto announced its plan to invest $1.5 billion to expand the Kennecott operation and extend its life of mine through to 2032.
Short Link:
https://www.miningnews.ir/En/News/510957
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
No comments have been posted yet ...