"RANKED: The world\u2019s top 10 most valuable mines"

" \r\n \r\n \r\n \r\n \r\n \r\n RANKED: The world\u2019s top 10 most valuable mines \r\nThe mining industry relies on a relatively small number of giant deposits to fuel growth \u2014 and new discoveries of this nature are few and far between.\r\n\r\nUsing data from sister company\u00a0 Miningintelligence , MINING.COM compiled a ranking of the world\u2019s 10 richest working base and precious metal mines by calculating the aggregate value of mineral resources based on ruling prices.\r\n\r\nNumber 1 on the list, Norilsk Nickel\u2019s eponymous operations in Russia\u2019s far north, date back to 1960 with the discovery of the Talnakhskoye field although the refinery processing Soviet nickel output started up decades earlier. Today a complex of several mines around Norilsk extract the Ni, Cu, Pt, Pd and Au metals from the magmatic sulphide deposit.\r\n\r\nThe second most valuable orebody in the world being mined today \u2013 Olympic Dam in South Australia \u2013 was discovered in the mid-1970s, while no. 3 Mogalakwena in South Africa began operations in the 1990s. The world\u2019s largest copper mine Escondida, which sits at no. 4 on the list, was discovered in 1981 but wouldn\u2019t hit current production in excess of one million tonnes per year before 2004.\r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n <img class=\"wp-image-1102947\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2022\/10\/top-10-most-valuable-mines-2022-1024x571.jpg\" sizes=\"(max-width: 1024px) 100vw, 1024px\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2022\/10\/top-10-most-valuable-mines-2022-1024x571.jpg 1024w, https:\/\/www.mining.com\/wp-content\/uploads\/2022\/10\/top-10-most-valuable-mines-2022-300x167.jpg 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2022\/10\/top-10-most-valuable-mines-2022-768x428.jpg 768w, https:\/\/www.mining.com\/wp-content\/uploads\/2022\/10\/top-10-most-valuable-mines-2022.jpg 1192w\" alt=\"\" width=\"1024\" height=\"571\" \/> \r\nWhile these mines are approaching middle age, they are relative newcomers considering that no 8 Morenci began operations in 1873, mining activity at no. 4 Collahuasi dates back to the 1880s,\u00a0 no. 10 Los Bronces went into production in 1916 and Grasberg (then Ertsberg or Ore Mountain) was first explored in 1936. Indeed, the world\u2019s top 20 copper mines have a weighted average age of nearly 100 years from initial discovery.\r\n\r\nThe discovery of Congo\u2019s Tenke Fungurume dates back to the 1970s, but standout on the list for its youth is Kamoa Kakula with first production only in May last year although the high-grade copper deposit in the DRC was first discovered in the early 2000s.\r\n\r\nMining\u2019s 2022 has been a particularly volatile year with a few metals \u2013 including bellwether copper \u2013 hitting all-time highs during the first quarter only to plunge to multi-year lows during the summer.\r\n\r\nMeasured from the start of the year all base metals \u2013 except nickel \u2013 are down by double digit percentage points with copper officially in a bear market with a 20% drop in 2022. Among precious metals palladium is showing gains for the year and platinum is trading flat, but gold is down nearly 10% and silver has lost 16% in value.\r\n\r\nA back of the envelope calculation shows the value of the contained metal at Norilsk would\u2019ve pushed $1.5\u00a0 trillion back when palladium (representing 43% of the dollar value) was trading above $3,000, nickel (30%) over $48,000 and copper (19%) more than $10,000 back in March.\r\n\r\nThe same sum for Olympic Dam sees the copper (64% of the overall value), gold (19%), uranium (15%) and silver mine also top a $1\u00a0 trillion measured using the 52-week highs of the metals and nuclear fuel. Uranium\u2019s comeback continues to gain momentum and the price of yellowcake is up more than 20% since the start of the year.\r\n\r\nWhile not nearly all the contained metals in measured and indicated resources in these deposits will be extracted, the exercise does illustrate just what valuable assets mines like these are. And perhaps more pertinent \u2013 just how uneven rich deposits like these are scattered across the planet.\r\n\r\n \r\n \r\n \r\n "

"RANKED: The world\u2019s top 10 most valuable mines"

Letshego Ghana Partners with Catholic Church to Power Over 4,000 Institutions with Solar EnergyAMP

Ato Essien’s Plea Bargain Fueled by Fear – KSMAMP

Audit Service Refutes Claims of Apology Over GHS 138.91bn Public Debt OverstatementAMP