Brazil Mining News and Commentary

Australian miners should seek business opportunities in Latin America: Government

Cecilia Jamasmie | May 23, 2012

Australian Foreign Minister, Bob Carr, called local mining companies to look at Latin America as a business destination, as the region was emerging as an important economic powerhouse, hungry for Australian investment.

Brazil's Usiminas scales back iron ore mining plans

Hellenic Shipping News Worldwide | May 22, 2012

Brazilian steelmaker Usiminas has cut back on plans to expand its iron ore production, reducing its targeted output by 2015 to 25 million tonnes from 29 million tonnes, the company's vice-president said.
Australian Crusader Resources to invest $400 million in Brazil gold mine

Cecilia Jamasmie | May 22, 2012

Australian company Crusader Resources Ltd. will invest $400 million in a gold mining project located in the Currais Novos region in Brazil’s north-eastern state of Rio Grande do Norte. The project is expected to be one of the biggest gold mines in the country.
Vale losing iron ore marketshare to Rio, BHP

MINING.com Editor | May 20, 2012

Stricter environmental rules on new mining projects, combined with soaring labour costs, are making Vale SA, the world's leading iron ore exporter, less competitive against Australian rivals Rio Tinto and BHP Billiton.
Latin American mining investment boom continues unabated

MINING.com Editor | May 16, 2012

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.
Vale not retaliating against mega ship ban

Mineweb | May 16, 2012

The world's top iron ore exporter, Brazil's Vale, is not excluding Chinese shipowners from transporting its iron ore and remains open to selling its huge dry bulk carriers to them, industry officials said on Wednesday.
Sandstorm Gold acquires two NSR royalties from Magellan Minerals

Marketwire | May 11, 2012

Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX VENTURE:SSL) is pleased to announce that it has acquired from Magellan Minerals Ltd. ("Magellan") (TSX VENTURE:MNM), a 2.5% net smelter returns royalty ("NSR") on the Coringa gold project ("Coringa") and a 1.0% NSR on the Cuiu Cuiu gold project ("Cuiu Cuiu") both of which are located in Para state, Brazil.
Vale's $4 billion Apolo iron ore project in Brazil jeopardized

Cecilia Jamasmie | May 11, 2012

Mining giant Vale (NYSE:VALE) is having second thoughts about going ahead with its $4 billion Apolo iron ore project in southeast Brazil, which may be affected by the federal government's decision to create a nature reserve in the area.
Nickel price alarm bells ring for Mirabela

Sydney Morning Herald | May 10, 2012

Perth-based Mirabela Nickel's share price has continued to slide today after dropping 30 per cent yesterday, which prompted a "please explain" by the Australian Securities Exchange and a one-day trading halt.
Potash is a diamond in the rough for the Republic of Congo

Cecilia Jamasmie | May 8, 2012

Australian junior Elemental Minerals (ASX, TSX: ELM), which is developing a potash project in the Republic of Congo, announced it has increased measured and indicated resources at its Kola deposit by 265% to just under one billion tons.
Brazil's Government wins latest round in Vale tax match

Cecilia Jamasmie | May 4, 2012

Brazilian mining giant Vale (NYSE:VALE) announced the country's Superior Court of Justice ruled in favour of the federal tax authority in its appeal against an injunction granted in March suspending payment of taxes on overseas profits by the company.
Eldorado Gold reports $67 million profit in Q1

Andrew Topf | May 3, 2012

Gold miners were caught in an ugly slide in the S&P/TSX Composite Index today, which shed 215 points in reaction to another poor economic report coming out of the US.
Brazil mining investment to top $75 billion by 2016

MINING.com Editor | May 3, 2012

Brazilian investment in mining is about to shatter a five-year record.
Brazilian Gold gives long-suffering investors something to smile about

Frik Els | May 2, 2012

Brazilian Gold Corporation jumped 13.5% on Wednesday on three times usual trading volumes, after announcing positive metallurgical test work at its São Jorge deposit in northern Brazil.
Vale makes most bullish iron ore comments yet. $180 a tonne anyone?

Frik Els | April 28, 2012

“There is a new level of prices for iron ore globally,” Tito Martins, Vale CFO tells analysts in a conference call Friday.
Belo Sun cranks Volta Grande resource estimate 28%; M&I now at 2.85 million oz

Andrew Topf | April 26, 2012

Brazil-focused Belo Sun Mining (TSX:BSX) was up 6% today after the Toronto-based company released an updated resource estimate on its Volta Grande gold project.
Vale's profits down by almost half – Q1 results

Cecilia Jamasmie | April 26, 2012

Vale, the second largest mining company, fell to the lowest in over six weeks today, after reporting its third consecutive drop in quarterly profit driven by declining iron-ore prices and output.
MBAC reports positive prefeasibility study results for its Santana Phosphate Project in Brazil

CNW Telbec | Mining/Metals | April 24, 2012

MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC) (OTCQX:MBCFF) is very pleased to announce the results of the Prefeasibility Study ("PFS") for the Company's 100% owned Santana Phosphate Project ("Santana" or the "Project") located in the southeast of Para State, Brazil.
Obstructions to Anglo American Minas-Rio iron ore project keep on coming

Cecilia Jamasmie | April 20, 2012

Anglo American’s CEO, Cynthia Carroll, said yesterday the company faces further disruption to its US$6 billion Minas-Rio iron ore operation in Brazil, although it hopes to resume construction at the site.
Vale's latest business sounds fishy, in a good way

Cecilia Jamasmie | April 20, 2012

Brazilian mining giant Vale has taken the concept of mining diversification to a new level by announcing that it will start raising fish by its Sudbury, Canada, location.
Brazil's aluminum output went up 3.7% in March

Cecilia Jamasmie | April 19, 2012

Brazil's aluminum output in March went up 3.7% to 125,000 tonnes, according to the national aluminum association, Abal.
Rio Novo Gold announces filing of Preliminary Economic Assessment Technical Report for its Almas Gold Project

Marketwire | April 19, 2012

Rio Novo Gold Inc. (TSX:RN)(TSX:RN.WT) ("Rio Novo" or the "Company") announces that a National Instrument 43-101 compliant technical report in support of the Preliminary Economic Assessment ("PEA") of its Almas Gold Project ("Almas Project") has been filed on SEDAR (www.sedar.com).
$1.7 billion in business as a result of Expomin 2012

MINING.com Editor | April 16, 2012

1,300 exhibitors, 5,000 new products, 35 countries represented, 70,000 visitors and nearly $1.7 billion in future business is the result of ExpoMin 2012, the world mining congress held April 9 to 13 in Santiago, Chile.
Anglo American faces new obstructions to Minas Rio

Cecilia Jamasmie | April 16, 2012

Anglo American has halted preliminary work for installation of a power line at its Minas Rio iron ore project in Brazil, following a judge's decision to suspend the installation license for the line.
400,000 tonnes dead weight – Vale's massive ore carriers suffer new setback

Frik Els | April 15, 2012

Two of Vale's massive Valemax carriers were in Subic Bay, Philippines for just under a month transferring cargo to smaller ships to carry iron ore onto China, because the 400,000 tonne vessels may not dock at Chinese ports.
Canadian Eldorado's gold production keeps growing

Cecilia Jamasmie | April 12, 2012

Canadian miner Eldorado Gold (TSX:ELD) (NYSE:EGO), which recently closed its acquisition of European Goldfields, expects its yearly gold production to touch 1.7 million ounces within five years as it brings new mines into production.