Chile Mining News

Chile's cheerless outlook for copper price

Top global producer sees surplus this year and next as mines pump out more metal and predicts decline in copper price from today's levels through 2017.

Barrick ‘is back’ chairman Thornton tells shareholders

Barrick Gold has reduced its debt load, reshuffle management and sold several assets.

Barrick Gold swings to quarterly loss, but trims debt further

The world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales impacted production and realized gold prices fell.

Barrick’s fourth CFO in five years may be what shareholders were waiting for

Most shareholders hope that Catherine Raw persuades management to stop prizing output over profitability and, instead, place more emphasis on investors’ returns.

Miners spending again: $50 billion capex in five months

Confidence returns to mining sector as announced capital outlays surge to $108 billion – greenfield project spending up three-fold in first quarter.

Anglo shareholders revolt against Cutifani’s $4.9 million pay

Full voting results will be released on Friday.

World's largest underground copper mine remains shut on heavy rains, mudslides

Chile's Codelco said that it loses about 1,500 tonnes of copper output for each day El Teniente mine remains inactive.

Heavy rains shut down copper mines in Chile

Operations at two of the world's largest copper mines have been suspended following a weekend deluge in central Chile.

Canada-Chile lithium project in Argentina to begin operations in 2019

The Cauchari-Olaroz project, in northern Argentina, is forecast to initially produce 40,000 tonnes of lithium carbonate equivalent a year.

Codelco scraps plans for new mine at El Salvador division

Decision would reduce the total investment needed to $600 million from the whooping $3 billion it was originally estimated.

Top 10 copper producing countries

Peru's output surges, North American producers slip down the rankings and Chinese mines shut down.

Antofagasta copper veteran Hernandez retires, Arriagada named new CEO

The appointment is effective immediately and Hernandez, who had been CEO since 2014, will remain as an adviser to the board.

Forget about ‘Los Bronces’; that mine is ours — Anglo to Codelco

Codelco is facing mounting internal pressure to acquire Anglo's stake in Los Bronces mine, in which the Chilean miner already has a 29.5% interest.

Barrick Gold chairman John Thornton takes a 76% pay cut

He will receive $3.4 million for his work in 2015, including compensations and pension, a significant reduction from the almost $13 million he pocketed in 2014.

World’s No.1 copper miner Codelco posts historic loss of $1.4bn in 2015

For every penny copper prices drop, Codelco loses $36 million and Chile, the world's largest producing country, $50 million.

US judge rules Barrick Gold must face group lawsuit over Pascua-Lama mine

Class action claims that Barrick repeatedly and knowingly misled shareholders about whether Pascua-Lama complied with environmental regulations.

Mitsui posts first loss ever amid $2.3bn copper, gas write-downs

About $1 billion of the total write-down was due to copper projects in Chile and revisions to the long-term price outlook.

Glencore closer to selling Lomas Bayas copper mine in Chile

Bidders include former Barrick Gold CEO Aaron Regent's company, Magris Resources, and Chilean energy firm Copec.

KGHM, Sumitomo face fine, licence withdrawal over environmental breaches in Chile

The infractions include not implementing measures to control emissions, altering the natural habitat for native wildlife, and operating a tailings dam in an unauthorized fashion.

Chile helping miners to stay afloat, but threat of labour reform, lower copper prices loom

The government has set aside some $20 million through June to assist small and medium miners

World's top copper miner sees metal at $2 a pound for at least two years

Codelco says current copper rally will be short-lived.

Barrick announces ‘drastic revision’ of Pascua-Lama, may add partner

Analysts believe that Barrick’s partner in Papua New Guinea, Zijin Mining Group, could be the one to help turn Pascua-Lama into a success.

Chile's small-scale miners battling to stay afloat amid copper rout

They are at the sharp end of a commodities downturn which has led half of all the small mining operations in top copper exporter Chile to shut in the last eight years.

These are the assets Anglo American is kicking to the curb

The miner is completely exiting coal and selling several assets, to focus only on copper, diamonds and platinum.

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.