Brazil Mining News

BHP Billiton approves Samarco expansion

BHP Billiton today announced that the partners of Samarco had approved the US$3.5 billion (BHP Billiton share1 US$1.75 billion) Fourth Pellet Plant Project at Samarco (Brazil). The expansion will increase Samarco iron ore pellet production capacity by 8.3 million tonnes to 30.5 million tonnes per annum (100% basis). First pellet production is expected in the first half of calendar year 2014. BHP Billiton President Iron Ore, Ian Ashby, said “Samarco is a low cost supplier of high quality iron ore pellets and over the last several years has been very successful in growing its resource base. This investment builds on its resource and operational strengths and will further improve Samarco’s competitiveness and market position.”

Brazilian Gold closes $23 million bought deal private placement

Brazilian Gold Corporation (TSX VENTURE:BGC) ("Brazilian Gold" or the "Company") is pleased to announce the closing of its previously announced bought deal private placement, including the full exercise of the $3,003,000 Underwriters' option (the "Offering"). Under the Offering, the Company issued an aggregate of 16,445,000 common shares (the "Common Shares") of the Company at a price of $1.40 per Common Share for gross proceeds of $23,023,000. The Company intends to use the net proceeds of the Offering to advance the Company's gold projects in Northern Brazil, and for general corporate purposes.

Colossus hits behemoth gold-PGM intercept in Brazil

The latest bonanza grade gold-PGM drill results from the Serra Pelada project in Brazil are making it easy for Colossus Minerals (TSX: CSI) to live up to its name. Since 2007 Colossus Minerals and 25-percent joint-venture partner COOMIGASP have been pushing the southwestern extent of high-grade gold, platinum and palladium mineralization beyond a historic open-pit mine.

Colossus Minerals drills 7.30 metres at 1494.7 g/t gold, 516.6 g/t platinum and 558.9 g/t palladium in extensions of central mineralized zone at Serra Pelada, Brazil

Colossus Minerals Inc. (the "Company" or "Colossus")(TSX:CSI) is pleased to announce additional assay results from the 25,000 metre surface drilling program at the Serra Pelada Gold-Platinum-Palladium Project, the Colossus-COOMIGASP Joint Venture located in Para State, Brazil. "Drilling such high-grade gold, platinum and palladium approximately 700 metres down plunge from the outcrop of the Central Mineralized Zone in the historic Serra Pelada pit continues to demonstrate the robustness of this mineralized system," commented Ari Sussman, Colossus CEO. "We wait with great anticipation for early 2012 when construction of the underground decline advances to the point that enables the Company to see the Central Mineralized Zone first hand and extract the first of three 2,500 tonne bulk samples from it."

Revolver to acquire operating iron ore assets in Brazil

Revolver Resources Inc., (TSX VENTURE:RZ) ("Revolver") is pleased to announce that it has entered into an arm's length letter of intent with Oculus Mining S.A. ("Oculus") effective April 11, 2011, relating to a reverse takeover transaction (the "Transaction"), pursuant to which Revolver proposes to acquire all of the issued and outstanding securities of Oculus from the shareholders of Oculus (the "Oculus Shareholders") on a pro rata basis. Trading in the shares of Revolver has been halted in accordance with the policies of the TSX Venture Exchange (the "TSXV") and will remain halted until such time as all required documentation has been filed with and accepted by the TSXV and permission to resume trading has been obtained from the TSXV.

Itaoeste discovers thallium deposit in Bahia

Itaoeste, a mineral research and development company active in São Paulo, Piauí and Bahia, recently announced the discovery of a thallium deposit at Barreiras in Bahia, Brazil. With this new addition, the company’s portfolio, comprising manganese, cobalt, iron, titanium, gold, copper and phosphate, among others, becomes even more attractive and places Brazil in the select group of thallium producers, until now limited to China and Kazakhstan.

Veolia announces mine equipment deals in Mexico and Brazil

Crown Solutions, a Veolia Water Solutions & Technologies company, is to supply the initial equipment for a new Water Treatment Plant (WTP) to Coeur Palmarejo in Mexico. The Palmarejo mine is an operating silver-gold mine in the […]

Vale bids $1.13bn for Metorex

Brazil's Vale (VALE5.SA: Quote), the world's largest producer of iron ore, has made an offer to acquire South African miner Metorex Ltd (MTXJ.J: Quote) for 7.5 billion rand ($1.13 billion), the two companies said on Friday. "Under the terms of the offer, if implemented, the Metorex shareholders will receive a cash consideration of 7.35 rand per share," the companies said in a joint statement.

Vale expects rise in total iron ore output to 320m tonnes

The Brazilian group, which produced 311m tonnes last year has previously said it is planning to raise its annual output to 522m tonnes by 2015 on the back of an expectation that demand growth will […]

Vale names Murilo Ferreira CEO under government pressure

The former Vale executive, who has previously led the group's Canadian nickel operations, will take up the post on May 22 and will have to placate not only politicians but also investors used to strong […]

Brazil considering iron ore export tax?

Brazil's government is considering creating an iron ore export tax meant to spur investment in local steel production, a leading Brazilian newspaper reported on Friday. Advisors to President Dilma Rousseff have asked the finance ministry to study a measure that would tax iron ore exports and exempt steel exports, the newspaper O Estado de S.Paulo reported on Friday, citing a source in the presidential palace.

Lago Dourado acquires 100% interest in its flagship Juruena gold project

Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company") announced today that it has signed an agreement with Geomin to acquire a 100% interest in the remaining 16 exploration licenses, previously under option, at its flagship gold project Juruena, in the Mato Grosso state of Brazil. The Company will now hold a 100% interest in the entire project which consists of 25 exploration licenses, covering approximately 70,000 hectares. There is currently one drill rig turning at Juruena with two rigs expected to be added in the coming weeks.

New African production could set stage for iron ore price declines: SMH

As quoted in today's Sydney Morning Herald, U.S. economist Dale Hale says the surge of iron ore from Africa could break the dominance of Australia and Brazil in the setting of iron ore prices, and lead to eventual price declines. The story says at least 20 mines could open in a region spanning Liberia, Guinea, Sierra Leone and Cameroon by 2015, with aggregate output of 600 million tonnes per year.

Brazilian media reports Vale CEO ousted

Brazilian mining company Vale has pushed out Chief Executive Roger Agnelli under heavy government pressure and is in discussions to replace him with an executive from within, local media reported on Sunday. President Dilma Rousseff has used the government's influence as a key Vale (VALE5.SA: Quote) shareholder to insist the company remove Agnelli following years of accusations it was not doing enough to bolster Brazil's economic development.

Largo announces plans for $110 million equity financing

Largo Resources Ltd. ("Largo" or the "Company") (TSX VENTURE:LGO) is pleased to announce that it has entered into a letter of intent (the "Letter of Intent") with Eton Park Capital Management, L.P. on behalf of […]

Brazilian government overcharging for mineral royalties – Vale

Brazilian mining giant Vale (VALE5.SA: Quote) said on Thursday the government is overcharging it for mineral royalties and will seek a legal review of some the requested payments amid a dispute over debts to the government that could reach $2.4 billion. Vale, the world's largest iron ore miner, insisted it had made payments according to the law and said it disagreed with the government over criteria for calculating what it owed.

AMG enters into tantalum supply agreements

AMG Advanced Metallurgical Group N.V. ("AMG," EURONEXT AMSTERDAM: "AMG") through its Advanced Materials Division, entered into supply agreements with traditional customers for all of its tantalum concentrate production through the end of 2012 at fixed […]

Vaaldiam Agrees to Acquire 51% of Brauna Property

Vaaldiam must pay US$6.5 million to the existing joint venture partners. The property area is 5,000 hectares, located in Bahia State, Brazil, contains 22 known kimberlite occurrences, including the Brauna 3 ('B3') kimberlite pipe.

Smelter shutdown to cut Vale nickel production 5%

The Brazilian miner said on Friday it will lose 5% of its total nickel production for 2011 as a result of a 16-week shut down of a smelter furnace in Canada Brazilian miner Vale said on Friday it will lose around 5 percent of its total 2011 nickel

Behre Dolbear highlights the best countries for mining investment

“Worldwide, Canada, Australia, Brazil, and Chile will likely remain the best jurisdictions in which to invest in and develop mining projects. Each of these nations will likely continue to see economic growth and mining investment.” This comment comes from a report, 2011 Ranking of Countries for Mining Investment Where ‘Not to Invest’. Most of us will agree with the company’s statement “the mining industry is vital to the creation of wealth and prosperity in any country. Countries that stifle it with detrimental political, economic, financial, and regulatory policies should be challenged to make changes that are more accommodative to its success.”

First gold pour at Aurizon mine, Brazil

Luna Gold  has commenced production at its Aurizon Gold Mine in Maranhã State, Brazil. Vancouver-based Luna Gold Corp. produced 10,905 ounces in November and December, with combined 90-day average throughputs over 3,615 tonnes per day, the […]

Musings on the Record Price of Copper

The spot price of copper jumped to $4.40 on December 31, exceeding previous highs set daily over the past week. Today we discuss copper’s meteoric price rise during the past five months, dissect current supply […]

Global iron ore market in flux

The iron ore market will never be as a sexy as its gold and silver counterparts; it’s much more about hard hats and dirty Dodge RAM 3500 trucks – you know, the ones that can pull big fishing boats up mountainsides, something I did just this past weekend.

Coffey Mining – Brazilian mineral exploration on the up

Coffey Mining’s Global Business Development Manager, David Atchison, thinks continued growth in the Chinese economy is driving mineral exploration in countries such as Brazil. “Chinese mining companies are looking to secure future supplies of resources […]

Coffey Mining tackles challenges and solutions for mineral exploration at Brazil's SIMEXMIN 2010

Coffey International Limited subsidiary, Coffey Mining, will be discussing challenges and solutions for the Brazilian mineral exploration market in the upcoming Brazilian Symposium of Mineral Exploration ("SIMEXMIN"), between 23-26 May in Ouro Preto, Minas Gerais, […]