Chile Mining News

Leakage at Anglo American’s Los Bronces mine forces firm to halt grinding

Firms says the affected pipe only carries ground ore mixed with water.

UK scientists develop new method to find copper deposits

Technique likely to become an inexpensive way to uncover rich copper deposits.

Chile’s court confirms 2nd highest fine in history for Caserones mine

The copper mine, property of Japan's top smelter JX Nippon Mining & Metals, will have to pay $10.8 million for breaching environmental rules.

Anglo American risks eviction from FTSE 100

FTSE 100 reweighting to take place in March.

Anglo American may fully exit Brazil — report

The company is said to be wanting to offload its Barro Alto nickel mine and the vast Minas-Rio iron ore complex.

Anglo American shares rally on iron ore output hike, cost-cutting measures

The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.

Antofagasta to lift copper output in 2016 after missing last year's target

The miner expects an output of 710,000-740,000 tonnes for 2016 as it ramps up production at its Antucoya and Centinela Concentrates mines, as well as from its share in Zaldivar mine, which co-owns with Barrick Gold.

Chile losing ground as top copper producer since metal price in the pits

From 2005 to 2015 Chile's copper output rose a mere 8%, while Peru’s grew 37%, China’s 114%, Zambia’s 72% and Congo’s 956%.

Barrick braces for up to $3 billion in writedowns

The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.

Double-digit growth expected for Chile, Colombia, Peru and Mexico — Scotiabank

Despite recent market volatility and exposure to low oil and commodity prices, the countries growth won't be affected, says the bank.

The world's southernmost mines

Chile's Invierno coal mine is, by far, the southernmost mine on the planet.

Ex-Barrick CEO said to offer $1bn for Glencore mine

Aaron Regent "is competing against a small number of Chilean-focused operators" for Glencore's Atacama copper mine according to reports.

Chile mulls scrapping copper funding for military

Codelco chairman, Oscar Landerretche, wants the government to scrap the country’s Copper Law, which forces the firm to give 10% of its annual export revenue to the Armed Forces.

Anglo American officially out of the Middle East

The miner has finally completed the sale of assets from its Tarmac joint venture to a subsidiary of French engineering and construction group Bouygues.

Chile’s copper miners still making money despite price collapse

Official figures contradict recent local reports showing that most copper miners in the country are barely breaking even at current metal prices.

Yamana Gold decides not to divest Brazilian operations after all

The miner said current market conditions are not supportive of a private placement on terms the company would find acceptable.

Chile’s court decision on whether force Antofagasta knock down Los Pelambres mine dam imminent

Locals claim the dam has diverted the course of a local estuary, causing water shortages at a time of drought.

Rio Tinto bets on lithium as Tesla yet to sign major supply deal

The miner is seeking strategic alliances with battery or car manufacturers to underpin the development of its Jadar lithium-borate project in Serbia.

Barrick unveils early results of plan to buy back $1.15bn of its own debt

The miner, which began the year with an over $13 billion debt, has vowed to reduce the hefty figure by $3 billion before the end of 2015.

Codelco eyes $600 million in savings, more job cuts in 2016 as copper in the pits

Chief executive Nelson Pizarro said output will, however, remain untouched.

Anglo American to cut 85,000 jobs, dividend and assets in sweeping restructuring

The job cuts, part of a major overhaul, are far greater than the 53,000 positions the miner said it would cut in July.

Anglo American set to announce dividend cut next week

One of the miner’s worst kept secret may be revealed as soon as Tuesday.

Barrick completes sale of 50% of Zaldívar copper mine to Antofagasta

The proceeds of the sale will be used to reduce a debt pile of $13 billion with a target of wiping out $3 billion this year.

BHP Billiton to slash copper production costs, increase output

The miner expects to lower production costs to $1.08 per pound during the 2017 financial year, from a projected $1.21 per pound in the year ending June 2016.

Anglo American shares close at lowest in 16 years on HSBC note

HSBC downgraded the company to 'reduce' from 'hold' and highlighted that Anglo's precarious cash flow situation may force it to cancel its dividend.