Dow Jones reports Argentina's Mendoza Province has lifted its suspension of the multibillion dollar Rio Colorado potash mine project being developed by Brazilian mining company Vale SA. Mendoza's Environmental Secretariat has allowed Vale to move forward with the mine after the company agreed to submit reports on its local hiring and procurement practices to the local authorities, the provincial government said in a statement.
Argentina Mining News
Minera Andes announced drill assay results from the January – May 2011 drill program and a development update for the 100% owned Los Azules Copper Project, in San Juan Province, Argentina. Highlights from the recent drilling include a step-out drill hole, located approximately 250 meters west of the resource that returned 0.50% copper over 269 meters, including 0.95% copper over 45 meters. Infill drilling was generally in line with expectations, for example intersecting 0.66% copper over 395 meters and 0.63% copper over 237 meters.
Golden Minerals Co said it will buy Canada's ECU Silver Mining in a reverse merger for about C$302.5 million ($309.1 million) in stock and cash, to form a new silver mining company focused on Mexico and Argentina. Under the terms of the deal, ECU shareholders will get 0.05 common shares of Golden Minerals and about $0.000394 in cash for each share they hold.
The Puna plateau sits at an elevation of 4,000m, stretches for 1800 km along the Central Andes and attains a width of 350–400 km. The Puna covers a portion of Argentina, Chile and Bolivia and hosts an estimated 70 - 80% of global lithium brine reserves.
Extorre Gold Mines announced that it has entered into an agreement pursuant to which a syndicate of underwriters led by TD Securities Inc. (the "Underwriters") has offered to purchase, on a bought deal private placement basis, 2,400,000 common shares (the "Shares") of the Company at a price of $10.50 per Share (the "Issue Price") for total gross proceeds of $25,200,000 (the "Offering"). The net proceeds from the Offering will be used for exploration and development of the Company's mineral projects in Argentina and for general working capital purposes.
On Monday, Lithium Americas(TSE:LAC) received a bullish initiating coverage report from equity research firm Dundee Capital Markets, as the lithium explorer was noted for having the potential to be one of the lowest cost lithium carbonate producers in the world.
As it tunes its rigs to near surface oxides Argentex Mining (TSX-V: ATX) continues to churn out strong silver and gold mineralized intercepts at its Pinguino property in Santa Cruz province, Argentina. Of 16 drillholes Argentex recently reported the best of the lot hit 62 metres @ 88.8 g/t silver and 0.94 g/t gold, which included as much as 6 metres at 675.5 g/t silver and 5.99 g/t gold.
Toronto stock exchange listed Minera Andes announced on Friday the proposed spin-out of its copper assets, including the 100%-owned Los Azules project, has been deferred. The gold, silver and copper exploration company cited weaker financial markets, financing uncertainties, and a delayed legal decision regarding its dispute with TNR Gold over claims on the Argentinean property, as contributing to the board’s decision.
TSX and Amex-listed Extorre Gold Mines took a step closer to the development of its flagship mine Cerro Moro in Argentina on Tuesday with the approval of the Environmental Impact Assessment and the purchase of the 14,000 ha that cover the project. Extorre, which was spun out of Exeter Resource Corporation last year, said the Project Pre-Feasibility Study is expected in June 2011 and start-up for the high grade gold and silver mine is scheduled for 2012. Capital costs for the mine are some $130m and cash costs are estimated at $201/ounce. Extorre is worth close to $800m on the TSX and is sitting on roughly $33m in cash. The company also owns the Don Sixto projects, and other mineral exploration properties in Argentina.
CiDRA Minerals Processing announced this week that CiDRA was awarded a contract for the installation of three flowmeters at AngloGold Ashanti's Cerro Vanguardia mine in Patagonia, Argentina. Read more
A planned dividend payment by steelmaker Siderar SID.BA was blocked by an Argentine judge on Thursday in the latest twist in a row linked to the government's efforts to tighten control over leading companies. The steel company had planned to pay a 2010 dividend of $359.5 million on Friday despite a ruling last month by the country's stock market regulator that effectively annulled the payment by declaring a shareholders meeting void.
Though the hurdles of government approval and project financing remain, Orocobre (ASX: ORE; TSX: ORL) released a strongly positive feasibility study of Olaroz, its lithium-potash brine project in Jujuy state, Argentina.
Troy Resources NL (ASX & TSX: TRY) disclosed today that follow up drilling on the Kamila South East zone produced more significant results from the high grade Inca Vein. An earlier assay produced 14.7 metres grading 7.79 grams/tonne gold and 1,292 g/t silver (26.24 g/t Au equivalent), and subsequent drilling produced more positive results.
In a scoping study, Lithium Americas outlined a plan to mine up to 40,000 tonnes per year of lithium carbonate in Argentina at one of the world's largest lithium-brine resources.
Orocobre Limited (TSX:ORL)(ASX:ORE) is pleased to report that it has produced battery grade lithium carbonate from Salar de Olaroz brines. Orocobre's analysis shows that the lithium carbonate is of greater than 99.9% purity* and of higher purity than the specifications for battery grade material sold by existing producers. This material was produced by refining a lower purity product previously produced at the company's facilities at Olaroz with recirculated brines. As such, the Company considers the material to be representative of what could be expected in commercial production.
Rodinia Lithium announces commencement of Preliminary Economic Assessment for the Salar De Diablillos
Rodinia Lithium Inc. (TSX-V:RM)(OTCQX:RDNAF) has commenced work to has commenced work to aggressively accelerate completion of a Preliminary Economic Assessment ("PEA") of its Salar de Diablillos property in Argentina following its recent announcement of an inferred recoverable resource.
Orocobre Limited (TSX:ORL)(ASX:ORE) reports a substantially increased and upgraded resource estimate at its flagship Salar de Olaroz lithium-potash project in Jujuy province in north-west Argentina. This follows completion of a comprehensive resource definition drilling program undertaken throughout 2010.
Southern Copper, one of the world's largest producers of the metal, has postponed its $1 billion Tia Maria mining project in Peru because of social conflicts, Chief Executive Oscar Gonzalez said on Tuesday. The company (SCCO.N: Quote) will revise the project's viability later this month and consider alternative sites in Argentina and Ecuador in the meantime, Gonzalez told local television.
Minera Andes (MAI.TO: Quote) said on Thursday it plans to spin out its Los Azules copper project in Argentina into a new publicly traded company. The Toronto-based exploration company said the move will let it unlock value from Los Azules and allow it to focus on developing its San Jose gold-copper project, which is located in the vicinity of Goldcorp's (G.TO: Quote) recently acquired Cerro Negro project in Argentina.
Minera Andes Inc. (TSX:MAI) unearthed 7.5 kilometres of new new high-grade silver/gold veins at its San Jose Mine, Argentina, during exploratory drilling in 2010, the company reported on Thursday. The new veins represent a 44% increase in the cumulative strike length of all veins known at the mine at the end of 2009.
Minera Andes Inc. (the "Corporation" or "Minera Andes") (TSX:MAI)(OTCBB:MNEAF) is pleased to provide a summary of the exploration results achieved during 2010 at the San José Mine. A total of 7.5 kilometers of new high-grade […]
Yamana Gold today announced an arrangement, subject to formal documentation, with Xstrata Queensland Limited and Goldcorp Inc. that would see the ultimate integration of Agua Rica into Minera Alumbrera. Agua Rica is a 100% Yamana-owned, development-stage project in the province of Catamarca, Argentina and is located approximately 35 kilometres from the currently operating Alumbrera mine
Never mind the correction in the price of silver, says Silver Strategies Editor Sean Rakhimov; better things are ahead. "It may be volatile; it may be steep; but it should be short-lived," he says, adding that he expects silver to rise well above its 2010 high at some point in 2011. Some of that price support could come from governments entering the silver market. Find out all the reasons for this and read about some of Sean's favorite silver plays in this exclusive interview with The Gold Report.
Barrick has selected the Maptek Vulcan™ mine planning and scheduling tools for implementation at the new Pascua-Lama project in South America. The open pit gold–silver project, straddling the border between Chile and Argentina, is the […]
Global engineering, project delivery and sciences firm Sinclair Knight Merz (SKM) has been appointed by Orocobre to undertake the Definitive Feasibility Study (DFS)for the Salar de Olaroz lithium project in Argentina. Read more