Chile

Codelco $7.5 billion Andina mine expansion plan to take about two years

Cecilia Jamasmie | September 3, 2015
Codelco $7.5 billion Andina mine expansion plan to take about two years

The project is considered key for Codelco, as it is the only one that will allow the state-owned miner to increase production in the coming years.

Freeport lays off 650, slows operations at Chile's El Abra mine

Reuters | September 3, 2015

The Arizona-based mining company also said it is partially suspending operations at the complex until mid-September, as it cuts mining rates in half.

Copper giants face cost cutting opposition in Chile

Frik Els | August 31, 2015
Copper giants face cost cutting opposition in Chile

Labour action threatened after half the workers at El-Abra mine in Chile – jointly owned by world's top copper miners Codelco and Freeport – were let go.

Codelco now mines copper for $1.40 a pound

Frik Els | August 28, 2015
Codelco now mines copper for $1.40 a pound

Chile's state-owned giant slashes costs 11% and boosts production as it takes the fight to the competition amid slumping copper price.

Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile

Cecilia Jamasmie | August 27, 2015
Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile

The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.

Canada, Australia, US, Chile and Mexico, the top destinations for mining investors

Cecilia Jamasmie | August 25, 2015
Canada, Australia, US, Chile and Mexico, the top destinations for mining investors

Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.

Anglo American sells copper mines in Chile to UK investment firm

Cecilia Jamasmie | August 24, 2015
Anglo American sells copper mines in Chile to UK investment firm

The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.

Latin American mines are most dissatisfied with the cost of maintenance and servicing

Timetric | August 20, 2015

New study shows mines throughout Latin America are dissatisfied with their Original Equipment Manufacturers (OEMs) over cost-related factors, in particular maintenance and servicing costs.

Canadian miner profit hit by Codelco’s striking contractors, snow storm

Cecilia Jamasmie | August 19, 2015
Canadian miner profit hit by Codelco’s striking contractors, snow storm

Cerro Grande said the events had adversely impacted operations at its Pimenton mine in Chile, and will have a negative impact on its fourth fiscal quarter, ending Sept. 30, 2015.

Copper down to fresh six-year low after China market falls

Cecilia Jamasmie | August 18, 2015
Copper down to fresh six-year low after China market falls

The red metal dropped to $5,012 on trading on the London Metal Exchange, approaching the level of $5,000 it last hit in late 2008.

Barrick Gold reshuffles top management team

Cecilia Jamasmie | August 17, 2015
Barrick Gold reshuffles top management team

Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.

Codelco says over $15 million in damages due to strike at Salvador mine

Cecilia Jamasmie | August 9, 2015
Codelco says over $15 million in damages to its Salvador mine due to strike

Codelco, the world's No.1 copper producer, confirmed it will start legal actions against protesters this week.

British investment fund to buy Anglo’s mines in Chile

Cecilia Jamasmie | August 9, 2015
British investment fund to buy Anglo’s mines in Chile

According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.

Nemaska Lithium gets go ahead for its Whabouchi mine in Quebec

Cecilia Jamasmie | July 30, 2015
Nemaska Lithium gets go ahead for its Whabouchi mine in Quebec

The proposed open-pit surface and underground spodumene mine will produce lithium, highly used in the manufacturing of batteries for cell phones and electric cars.

Goldcorp slashes dividend 60% amid dire gold market

Cecilia Jamasmie | July 30, 2015
Goldcorp axes dividend

The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.

Codelco resumes operations at Chuquicamata amid fresh road blockages

Cecilia Jamasmie | July 30, 2015
Codelco resumes operations at Chuquicamata amid fresh road blockages

A group of demonstrators, however, continued to block some access roads on Thursday morning, attempting to seize a bus that was heading to the nearby Gabriela Mistral mine.

Antofagasta cuts copper output forecast for the year

Cecilia Jamasmie | July 29, 2015
Antofagasta cuts copper output forecast for the year

This is the second time this year that the London-listed miner slashes its annual copper production guidance.

Codelco halts world's largest open pit copper mine over strike

Cecilia Jamasmie | July 28, 2015
Codelco halts world's largest open pit copper mine over strike

Things took a turn for the worse Friday, when a worker was shot dead by police near the company's smaller Salvador mine in northern Chile.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

Cecilia Jamasmie | July 24, 2015
Anglo American to axe 53,000 jobs, put 15 assets up for sale

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Coal slump hits Teck’s profit, output forecast

Cecilia Jamasmie | July 23, 2015
Coal slump hits Teck’s profit, output forecast

The Vancouver-based miner profit fell 21% in the quarter, making it adjust its 2015 coal production forecast to 25-26 million tonnes from 26.5-27.5 million tonnes.

Chile's copper output to fall after 2025

EFE | July 22, 2015

According to the Chilean Copper Commission (Cochilco) it would happen due to lack of appropriate technology.

Anglo American to write down up to $4bn on weak commodity prices

Cecilia Jamasmie | July 16, 2015
Anglo American to write down up to $4bn on weak commodity prices

This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.

Anglo American likely to cut dividend amid commodities collapse

Cecilia Jamasmie | July 15, 2015
Anglo American likely to cut dividend amid commodities collapse

It would be the first time since 2009 that Anglo has to cut dividends.

Chile’s Codelco to issue $2.5 billion in bonds amid copper prices collapse

Cecilia Jamasmie | July 9, 2015
Chile’s Codelco to issue $2.5 billion in bonds amid copper prices collapse

Though very few talk about it, Codelco is still suffering the consequences of a deal it signed with China's Minmetals back in 2006.

Investment banking prescriptions for Eldorado Gold’s ailment

Hallgarten & Company | July 5, 2015
perscription creative commons image

"Ideally the company should be broken up into a Chinese piece, a Turkish-listed piece and an 'other' piece."

China’s rate cuts to slow copper demand even further — report

Cecilia Jamasmie | July 3, 2015
Dr Copper making way too much of China devaluation

China's central bank commitment to ensure policy remained prudent this year may mean no more monetary stimulus, which could see copper demand growth slow further.

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