Chile

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

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.

Chile gives copper giant Codelco much-needed $225 million cash injection

Cecilia Jamasmie | July 2, 2015
Chile gives copper giant Codelco much-needed $225 million cash injection

The funds will come from the company’s own 2014 profits, as the state-owned miner gives its profits to Chile's government.

Anglo American laying off up to 20% of its staff as investors press for further savings

Cecilia Jamasmie | July 2, 2015
Anglo American laying off up to 20% of its staff as investors press for further savings

Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.

Copper price falls as Chile brings over 500,000 tonnes in line

Cecilia Jamasmie | June 30, 2015
Copper price falls as Chile brings over 500,000 tonnes in line

Production of the industrial metal jumped up 7.8% in May, when compared to April’s figures,despite dwindling ore grades in several of the country's aging copper mines.

BHP tipped as favourite in race for Barrick’s Zaldivar mine in Chile

Cecilia Jamasmie | June 29, 2015
BHP tipped as favourite in race for Barrick’s Zaldivar mine

BHP already operates the world’s largest copper mine, Escondida, which sits, quite literally, across the road from Zaldivar.

Chile may revoke Teck’s copper mine permit over environmental breaches

Cecilia Jamasmie | June 23, 2015
Chile may revoke Teck’s copper mine permit over environmental breaches

Teck is facing sanctions over infractions that include openings in the deposit where the ore is stored and a failure to build sufficient water infrastructure.

Workers at Chile's Collahuasi copper mine end strike

Cecilia Jamasmie | June 16, 2015
Workers at Chile's Collahuasi copper mine end strike

The 24-hour stoppage did not affect operations, according to the mine management.

Peru mining investment down 14% on unrest, violence, low metal prices

Cecilia Jamasmie | June 11, 2015
Peru mining investment down 14% on unrest, violence

Total for this year may be $7.7 billion, down from 2014's $8.7 billion and significantly lower than a record $10 billion in 2013.

Mining investments in Chile to reach $64 billion by 2025 — report

Cecilia Jamasmie | June 5, 2015
Mining investments in Chile to reach $64 billion by 2025 — report

According to the state copper commission, Chile’s portfolio of planned mining investments remains the largest in Latin America.

Chile may be China’s next competitor in the rare earths market

Cecilia Jamasmie | June 4, 2015
Chile may be China’s next competitor in the rare earths market

Chilean company Mineria Activa is stepping up efforts to grab some of that market in a much greener way than China,

Chile regulator seeks sanctions against Lundin’s Candelaria mine

Cecilia Jamasmie | May 27, 2015
Chile regulator seeks sanctions against Lundin’s Candelaria mine

Inspections that took place between 2013 and 2014, revealed 16 infractions, nine of which were considered very serious.

Chile’s Codelco sues Vale, Brazilian Department of Mines over exploration license

Cecilia Jamasmie | May 26, 2015
brazil-carajas

After spending over US$3.3 million in exploration and development of the Liberdade copper project, Codelco is facing Vale's claims that it has an older and still valid licence for the property.

Cecilia Jamasmie

China’s Zijin inks deals with two Canadian firms on the same day

Cecilia Jamasmie | May 26, 2015
China’s Zijin grabs stake in two Canadian firms on the same day

Perhaps the most important aspect of today’s agreements is the fact that both aim to form long-term strategic partnerships to collaborate on further ventures, opening new markets for all the firms involved.

Barrick sells 50% in Papua New Guinea unit to China's Zijin

Cecilia Jamasmie | May 26, 2015
Barrick sells 50% in Papua New Guinea unit to China's Zijin

The deal is part of a long-term strategic cooperation agreement that will see Zijin and Barrick collaborate on future projects and joint investments.

Barrick sells Cowal mine to Evolution Mining for $550 million

Cecilia Jamasmie | May 25, 2015
Barrick sells Cowal mine to Evolution Mining for $550 Million

With the acquisition Evolution Mining will become Australia's second largest gold producer.

Chile calls for better mining industry recognition of enviro-social concerns to avoid project stranding

Field Public Relations | May 21, 2015
Barrick's Pascua Lama workers drop strike

Chile, the world’s biggest copper producing country, has warned that the global resources sector needs to pay far more attention to its environmental and social licence obligations if new projects worth billions of dollars are to get up.

Chile strikes BHP Billiton copper project off development timeline

Copper sector needs nine Escondida mines over next decade to meet global demand: Rio Tinto

The Chilean government has removed BHP Billiton's US$4 billion Spence copper expansion project from its 10-year development timeline, saying it expects the world's largest miner will miss its targeted deadline of first production by 2020.

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