Chile

Chile’s main iron-ore producer to invest $650 million this year

Cecilia Jamasmie | April 16, 2014
Chile’s main iron-ore producer to invest $650 million this year

The biggest chunk of the investment will be allocated to CAP's Cerro Negro Norte operation in the country's north.

Cecilia Jamasmie

Rio Tinto iron ore output hit by bad weather in Australia, Canada

Cecilia Jamasmie | April 15, 2014
Rio Tinto iron ore output hit by bad weather in Australia, Canada

Production of the steel-making material, however, increased by 16%, which means the miner is on track to meet its full-year target.

Codelco could tap sovereign wealth fund for needed mine expansions

Cecilia Jamasmie | April 14, 2014
Codelco could tap sovereign wealth fund for needed mine expansions

The world's No.1 copper producer needs to invest roughly $30 billion in the next decade to counter dwindling ore grades in its massive mines.

Codelco workers suspected of stealing over $80m in copper

Cecilia Jamasmie | April 10, 2014
Codelco sues employees suspected of stealing over $80 million in copper

The criminal activity involved contractors and it had been going on since 2011.

Poll: 74% of Chileans want mining companies to pay higher taxes

Cecilia Jamasmie | April 9, 2014
Poll: 74% of Chileans want mining companies to pay higher taxes

They believe those funds should be allocated to the regions where mining operations are based.

Study: Copper surplus likely to push price down to $2.75 a pound

Frik Els | April 8, 2014
Study: Copper surplus likely to push price down to $2.75 a pound

The closely-watched Thomson Reuters GFMS annual copper survey paints a grim picture for the copper price in 2014 and beyond.

Codelco unveils new copper deposits holding over 1,800 million tonnes

Cecilia Jamasmie | April 8, 2014
Codelco could tap sovereign wealth fund for needed mine expansions

The world’s No.1 copper producer said the recently found deposits are all located nearby current operations.

Chile mulls new investment incentives for miners

Cecilia Jamasmie | April 4, 2014
Chile mulls new investment incentives for miners

Amid mounting criticism on the a proposed reform to the country’s foreign-investment law that removes a mining-friendly clause.

Chile’s mining area hit by 7.8 magnitude aftershock, President evacuated

Cecilia Jamasmie | April 3, 2014
Chile’s mining area hit by 7.8 magnitude aftershock, President evacuated

The aftershock was the strongest of several that have followed Tuesday's massive 8.2-magnitude. Mining operations remain unaffected.

8.2 earthquake rattles Chile’s mining hub, ports

Cecilia Jamasmie | April 2, 2014
8-2-earthquake-rattled-chiles-mining-hub-ports

World prices for copper jumped as the quake in the world's No.1 producer raised supply concerns.

World’s No.1 copper miner output fell to 5-year low in 2013

Cecilia Jamasmie | March 28, 2014
World’s No.1 copper miner output fell to 5-year low in 2013

Due to declining ore grades and lower metal prices.

Miners protest at Anglo’s Los Bronces mine in Chile

Cecilia Jamasmie | March 24, 2014
Miners protest at Anglo’s Los Bronces mine in Chile

Company said operations remain unaffected.

Antofagasta hit by copper slump, will pay big dividend regardless

Cecilia Jamasmie | March 18, 2014
Antofagasta hit by copper slump, will pay big dividend regardless

The London-listed copper miner will pay its shareholders a dividend equivalent to 142% of its full year earnings.

BHP and Rio Tinto to be lent $100 million by Australia's government

The Australian | March 17, 2014

Companies will get $100 million for a joint-venture in Chile, under the latest funding deal by Australia's controversial Export Finance and Insurance Corporation.

KGHM completes seawater pipeline for its Sierra Gorda copper mine in Chile

Cecilia Jamasmie | March 12, 2014
KGHM completes seawater pipeline for its Sierra Gorda copper mine in Chile

The open-pit mine, to begin operations later this year, is considered the world’s seventh largest copper project.

Chile’s new mining minister to take the industry by surprise… or not

Suzanne Soto | March 10, 2014
Chile’s new mining minister to take the industry by surprise… or not

Aurora Williams, Chile’s new mining minister, takes office on Tuesday.

Copper at 8-month low on disappointing China exports

Cecilia Jamasmie | March 10, 2014
Copper at 8-month low on disappointing China exports

Shanghai copper, in turn, went down beyond its 5% daily limit on Monday, hitting its lowest in more than four years.

Workers strike at Kinross' Chile mine, operations suspended

Ana Komnenic | March 5, 2014
Workers strike at Kinross' Maricunga mine in Chile

The company has no predictions as to when the strike may end or how production will be impacted.

Glencore Xstrata logs $7.4bn net loss, eyes oil deal with Russia

Cecilia Jamasmie | March 4, 2014
Glencore Xstrata logs $7.4bn net loss as eyes oil deal with Russia

Despite the gloomy results, the commodities giant revenues for the year jumped 9% to $232.6 billion

Chilean court revokes Barrick’s Pascua-Lama $16-million fine, but orders new ones

Cecilia Jamasmie | March 4, 2014
Chilean court revokes Barrick’s Pascua-Lama $16-million fine

Far from being good news, the resolution orders Chile's environmental watchdog to charge Barrick for each and every of the 22 violations found in the project, instead of grouping them into five categories as it did the first time.

Shareholders shrug Yamana losses and revenue, production miss

Frik Els | February 19, 2014
Shareholders unconcerned by Yamana Gold writedowns, losses

Despite quarterly loss of $584m, the $8.5 billion share is up 23.5% year to date and enjoys a higher valuation than gold miners producing millions of ounces more per year.

Codelco’s challenges escalate as workers reject contract offer

Cecilia Jamasmie | February 14, 2014
Codelco’s challenges escalate as workers reject contract offer

The copper giant is having a rough start of the year with sinking copper prices, lack of cash and escalating costs.

Anglo American profit hit by strikes, logs $1.9 billion writedown

Cecilia Jamasmie | February 14, 2014
Anglo gives fresh signs of looking to offload its platinum mines

"We are not happy," said CEO Mark Cutifani.

Barrick takes massive US$2.8 billion charge on mines, lowers gold reserves

Cecilia Jamasmie | February 13, 2014
Barrick takes massive US$2.8 billion charge on mines, lowers gold reserves

Net loss for the entire year climbed up to a monster $10.37 billion.

African, Chilean copper mines growth lift Glencore Xstrata output by 32%

Cecilia Jamasmie | February 11, 2014
African, Chilean copper mines growth lift Glencore Xstrata output by 32%

This was the first production report since the Anglo-Swiss firm completed the acquisition of Xstrata last May.

Peru’s copper sector the one with highest growth potential in the world—Chilean expert

Cecilia Jamasmie | February 5, 2014
Peru’s copper sector the one with highest growth potential in the world—Chilean expert

Peruvian copper projects are solid, competitive and less costly in terms of energy needs, says the expert.

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