Chile

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.

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.

Australian miners warned not to ignore ties between Latin America, Asia

Field Public Relations | May 20, 2015
australian-miners-warned-not-to-ignore-latin-america-asia

The increasing engagement of Latin America with Asia may potentially be at the expense of Australia’s traditional sense of right to be a major Asian player, expert says.

Cecilia Jamasmie

Copper, nickel prices likely to be hit by El Niño event

Cecilia Jamasmie | May 13, 2015
Copper, nickel prices likely to be hit by El Niño event

The recurring phenomenon — a warming of the Pacific Ocean as part of a complex cycle linking atmosphere and ocean — has in the past affected mine output, triggering price spikes.

Giving up on iron ore best option for Anglo American — Investec

Cecilia Jamasmie | May 13, 2015
Giving up on iron ore best option for Anglo American — Investec

The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.

Anglo fined $6.2m for environmental breaches at Los Bronces mine in Chile

Cecilia Jamasmie | May 5, 2015
Anglo fined $3.8bn for environmental breaches at Los Bronces mine in Chile

The environmental watchdog said the fine was calculated based on at least five infractions detected at the operation and the mine's facilities.

Former BlackRock mining fund manager joins Barrick Gold

Cecilia Jamasmie | May 1, 2015
Former BlackRock mining fund manager joins Barrick Gold

Catherine Raw, from one of the UK mining sector's best known fund managers, is assuming as the company's Business Performance Executive Vice President.

Antofagasta cuts copper output forecast over rain, protests in Chile

Cecilia Jamasmie | April 29, 2015
Antofagasta cuts copper output forecast over rain, protests in Chile

Torrential rain in Chile's desert region and environmental protests dented first-quarter output, forcing the miner cut its annual production forecast.

Majority of Barrick’s shareholders rejects compensation plan

Cecilia Jamasmie | April 28, 2015
Majority of Barrick’s shareholders rejects compensation plan

As much as three quarters of investors voted in favour of a non-binding motion to change the way the gold giant compensates its executives.

Codelco to send robots inspect equipment at Gabriela Mistral mine

Cecilia Jamasmie | April 28, 2015
Codelco to send robots inspect equipment at Gabriela Mistral mine

The company, dealing with aging mines, has been leaning on a wide range of new technologies to reduce operating costs and increase efficiencies.

Barrick begins sale of stake in Chile’s Zaldivar copper mine

Cecilia Jamasmie | April 28, 2015
Barrick begins sale of stake in Chile’s Zaldivar copper mine

Chinese companies, private equity firms including Mick Davis’s X2 Resources, and even Teck Resources are rumoured to be among the potential buyers.

Barrick faces fresh opposition to executive pay plan

Cecilia Jamasmie | April 24, 2015
Barrick facing fresh opposition to executive pay plan

The Canada Pension Plan Investment Board will vote against the gold miner’s executive compensation structure next week.

Antofagasta's Los Pelambres mine is safe — Chile’s court

Cecilia Jamasmie | April 24, 2015
Antofagasta's Los Pelambres mine is safe — Chile’s court

La Serena appeals court unanimously rejected a lawsuit presented by locals, which claimed the massive tailing dam had dried up a nearby stream and contaminated underground water.

Low diamond prices push Anglo American to cut output

Cecilia Jamasmie | April 23, 2015
Low diamond prices push Anglo American to cut output

The global miner trimmed its forecast from 32m-34m carats to 30m-32m because of “current trading conditions”.

Chile to fine Barrick over ten new environmental violations

Cecilia Jamasmie | April 23, 2015
Chile to fine Barrick over ten new environmental violations

The country's Superintendence for the Environment (SMA) also said the miner has not properly monitored the impact on nearby glaciers.

Codelco to unveil plan to speed up delayed Chuquicamata mine expansion

Cecilia Jamasmie | April 16, 2015
Codelco to unveil plan to speed up delayed Chuquicamata mine expansion

The plan seeks to tackle an almost yearlong delay in the project to turn century-old Chuquicamata open pit mine into an underground operation.

Codelco spending $25 billion just to keep output steady

Frik Els | April 15, 2015
Codelco El Teniente mine expansion to take longer, cost $2bn more

$5 billion a year for five years will merely replace exhausted mine capacity says CEO of world's largest copper company.

Move over Codelco: Freeport plans to be the world’s No.1 copper miner

Cecilia Jamasmie | April 13, 2015
Move over Codelco: Freeport plans to be the world’s No.1 copper miner

But China’s slowdown, rising costs and falling prices may get in the way.

Nice bump for Lundin on Candelaria reserves update

Frik Els | April 8, 2015
The Lundin’s look to Chile for copper’s next run

Two new deposits extend mine life at Chile mine bought for $1.8bn by 190,000 tonnes contained metal and three years.

World’s largest copper producer Chile slashes 2015 output forecast

Cecilia Jamasmie | April 7, 2015
World’s largest copper producer Chile slashes 2015 output forecast

Mostly due to a lower estimate from Anglo American's projects and the Zaldivar mine, which is operated by Barrick.

Chile’s Codelco the first miner to join the Industrial Internet Consortium

Cecilia Jamasmie | April 3, 2015
Chile’s Codelco the first miner to join the Industrial Internet Consortium

Among other applications, Codelco is interested in implementing worker location services and remote equipment assessments.

Naun Claros

Chile’s floods: What others are not telling you

Naun Claros | April 3, 2015

While miners operating in the affected area did not reported any serious damage, blocked roads forced some to halt operations and the final costs remain to be seen.

Kinross Chile mine operations still halted after floods

Frik Els | April 1, 2015
Workers strike at Kinross' Maricunga mine in Chile

Toronto-based gold miner at this time does not anticipate impact to regional production guidance after freak floods damage its Maricunga mine.

Atacama floods: Lithium impact analysed

Chile set to make mining desalination mandatory

After a freak storm and flooding in Chile’s Atacama Desert temporarily closed one of the world’s leading lithium operations, fears of further supply squeezes and upward price pressure this year have been allayed after operations resumed.

Copper price falls as Chile brings 1.6mt back on line

Frik Els | March 27, 2015
Copper price falls as Chile brings 1.6mt back on line

Copper down nearly 2% as torrential downpour that shut many of the country's biggest mines is not expected to impact oversupplied market.

JX, Mitsui Mining halt Caserones mine, to take a $421M write down

Cecilia Jamasmie | March 26, 2015
JX, Mitsui Mining halt Caserones mine, to take a $421M write down

The company said the suspension of operation at the copper is momentary, as northern Chile is being hit by torrential rain and snow.

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