Brazil Mining News

Belo Sun Releases Results from 65 Drill Holes Further Extending the Ouro Verde Deposit Along Strike Northwest and Down Dip

Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 65 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil.

Vale shuts railroad from world’s biggest iron ore mine

Vale SA (VALE3), Brazil’s biggest exporter, has shut a railroad that transports production from the world’s largest iron ore mine after a construction accident.

Brazil's Vale halts transport on Carajas iron ore railroad due to accident – report

Brazilian mining company Vale SA (VALE, VALE5.BR) halted iron ore and passenger transport for an undetermined period on a stretch of its Carajas railroad in north Brazil after an accident occurred during bridge construction work, Brazil's Radio CBN...

South American mining boom is now in the rearview mirror: Citigroup

In Latin America the decade-long bull run for mining and hydrocarbons is mostly behind us, according to Jason Press, a regional specialist analyzing equities for Citigroup.

Verde Potash's $25 million deal provides no succour to investors still nursing 27% knock after poor economic study

Verde Potash shares fell 2.8% to $6.51 by lunchtime on Thursday after the company announced bought deal financing of $25 million. In the run up to the release of a preliminary economic assessment report for its Amazon project a month ago, Verde Potash's shares were driven all the way up to $8.95, only to come crashing down after the study disappointed investors all round.

Whose pricing power? Big 3 said to be in talks to join China's new iron ore trading platform

Should the supermajors join the new platform it would mark the latest shift in the global iron ore business which has been completely transformed in less than a decade.

Yamana books $81 million impairment loss

Despite unbeat quarter with 29% increase in revenues, Yamana also took a $81 million non-cash impairment loss on investments in available-for-sale securities recorded in the quarter.

Company growth feeds human growth: junior secures key phosphate deposit in Brazil

Brazil, now the envy of debt-ridden nations, is scrambling to strengthen its control over domestic food production. This move became a matter of national security as the country saw 2008’s increased fertilizer prices threaten its agricultural sector.

European Goldfields and Eldorado tie-up: At last investors can cheer news about Greece

The $2.5 billion deal saw European Goldfields add 6.4% in afternoon trade on Tuesday while Eldorado gained 6% to bring their combined market value to $10 billion.

Avanco Resources to double copper gold resource through acquisition from Xstrata

Brazilian copper developer Avanco Resources (ASX:AVB) said today that it would double the company’s copper gold resources through the acquisition of the Pedra Branca Copper-Gold Project in Brazil's Carajas Mineral Province from Xstrata Copper.

Vale profits fall 21% after bending to Chinese steelmakers

Vale is the world's largest producer of iron ore and a top nickel miner, reported a quarterly net profit of $4.67 billion, compared to $5.9 billion in the same quarter last year.

Brazil's Vale to lease Petrobras potash mine

Brazilian mining giant Vale SA (VALE, VALE5.BR) on Thursday said its board of directors has approved a deal to lease for another 30 years a potash mine in northeastern Brazil, from Brazilian oil giant Petroleo Brasileiro SA (PBR, PETR4.BR).

Black day for Verde as investors see red over Brazil potash project preliminary economic assessment

Verde Potash shares fell $1.66 or 19.4% to $6.90 on Tuesday, recovering from even steeper losses earlier in the day, after the company released a preliminary economic assessment report for its Brazil project that disappointed investors.

Vale gets licence to mine high-grade iron ore pit at Carajas mine

Brazilian miner Vale SA is granted an operation license to mine a high grade iron ore pit at Carajas in north Brazil.

Kaolin to alumina process development

Australia Minerals and Mining Group (AMMG), through its wholly owned subsidiary Kaolin Resources, has signed a non-binding memorandum of understanding with Kalamazon Estudos Geologicos (KEG), the wholly owned subsidiary of Kalamazon Minerals.

Petrobras CEO Jose Sergio Gabrielli is out

Jose Sergio Gabrielli is no longer CEO of Petrobras, Brazil's state-controlled oil company. He was replaced by Maria das Graças Foster, a business leader with close ties to the president of Brazil, Dilma Rousseff.

Kinross down 19% after announcing Tasiast project setback

Kinross Gold (K.TO) erased 19.46% of its value, with shares dropping to $10.65 a share on Tuesday, after it disclosed that it will take ". . . a material non-cash accounting charge, primarily relating to the goodwill recorded for the Tasiast mine in connection with the 2010 Red Back acquisition."

Record breaking tunnel will open up access for iron ore to new port in Brazil

The Porto Sudeste tunnel project in Brazil features a 20.5 m wide tunnel and will accommodate four conveyor lines to become one of the widest tunnels of its type globally.

Top global mining executives to explore innovation possibilities at Brazilian summit

The Kellogg Innovation Network (KIN) at Northwestern University’s Kellogg School of Management is to partner with Brazil’s Fundacao Dom Cabral (FDC) to host a select group of high-level officers and direct reports from around the world for a collaborative exploration of challenges facing the mining industry.

Iron ore prices: Vale's force majeure, cyclone Heidi vs China slowdown

Reuters reports spot iron ore was trading close to seven-week highs after a cyclone closed down the world's largest export terminal in Australia and heavy rains in three Brazilian states halted Vale's shipments.

Iron ore-spot hovers near 7-week high, Vale halts shipments

Iron ore steadied near seven-week highs, helped by supply disruptions in top exporters Australia and Brazil although lean Chinese demand is limiting the impact of fewer available fresh cargoes.

Jaguar Mining Provides Update on Strategic Review Process

Jaguar Mining Inc. ("Jaguar" or the "Company") (JAG: TSX/NYSE) is pleased to provide the following update regarding the previously announced strategic review process, which was initiated by the Board of Directors on November 16, 2011.

E.ON in $34 billion Brazil power deal with MPX

Giant German utility E.ON said on Wednesday it will team with Brazilian billionaire Eike Batista to build the largest privately held network of power plants in Brazil, as it bets on emerging markets amid stagnant growth in Europe.

Verde Potash: Cerrado Verde Inferred Resource Estimation Expanded 100% to 2.68 Billion Tonnes at 8.8% K2O

Verde Potash Plc (TSX-V:NPK) ("Verde" or the "Company") is pleased to announce an expansion as a result of further drilling, to the resource estimate for the Cerrado Verde Potash Project located in Minas Gerais State, Brazil ("Cerrado Verde"). The estimate comprises an indicated resource of 74 million tonnes with an average grade of 9.22% K2O and an inferred resource of 2.68 billion tonnes with an average grade of 8.88% K2O (applying a 7.5% K2O cut-off).

Carpathian Reviews 2011 Achievements & Budgets $152 Million for 2012

Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to provide a review of the results and achievements for 2011 and its capital expenditure and exploration work programs and outlook for 2012 for which it has allocated a total budget of approximately $152 Million. The Corporation is pleased with the achievements it made in 2011 on its two wholly owned assets: 1) Riacho dos Machados Gold Mining Project (the "RDM Mine" or "Project") in Brazil which is now in the mine construction phase and; 2) the Rovina Valley Project in Romania which is currently undergoing a Pre-feasibility Study.