The Gualcamayo acquisition adds 491,000 ounces of gold in reserves and 2.28 million ounces of gold in indicated mineral resources.
Chile Mining News
While the decision is final and not subject to appeal, one legal hurdle remains — Pampa Group, which controls SQM, earlier this month filed an additional appeal with Chile’s TDLC antitrust court.
Company now expects to produce between 705,000-725,000 tonnes this year, down from the earlier 705-740,000 tonnes target.
SQM revealed a five-week delay in a project to increase annual capacity.
The deal is part of Jacobs’ strategy to optimize its portfolio with a focus on higher-growth, higher-profit infrastructure and commercial projects - CEO
Nutrien’s executive vice-president Michael Webb, described Julio Ponce, the Chilean miner’s top shareholder and former chairman, as a “hypocrite” and urged him to “look beyond himself."
The US miner has agreed to a deal that would give it up to 80% in Solaris' Ricardo property.
Albemarle failed to make a "serious" offer for its annual production capacity to be provided at a discounted rate - Corfo
Though we have not seen a material impact on our business, we remain cautious in the near term
The Rajo Inca project would convert the existing asset, which has been in operation since 1959 and is due to run out of ore in 2021, to an open pit mine from an underground one.
World warehouse stocks are dropping, down 50% since the first of April.
The copper market is currently experiencing a squeeze on physical metal which is unexpected.
On Oct. 11, Chile's Constitutional Court put the brakes on a $4 billion deal allowing the sale of A 24 percent stake in SQM to China's Tianqi Lithium Corp.
The operation was put on hold in 2013 due to environmental issues, political opposition, labor unrest and development costs that ballooned to $8.5 billion.
Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second largest operation by size, to comply with stricter emissions standards coming in effect in December.
The Constitutional Court said it would hear arguments in the case on Oct. 22.
Chile's Supreme Court upheld an environmental order for a gold mine owned by Canada's Kinross Gold Corp to close its water pumping wells.
The controlling shareholder in Chilean lithium producer SQM on Wednesday filed suit with Chile's Constitutional Court.
Chile expects lithium to soon become its second largest mining asset, just behind copper. It's currently the country's fourth biggest export.
KGHM will deliver updated strategy by year-end and it has no plans to sell foreign assets.
Chile's state-owned miner Codelco, the world's largest copper producer, plans to raise up to $1 billion next year to help finance the overhaul of its existing mines.
Richard Adkerson says any strategic move is now possible, including acquisitions, partnerships, or even a sale of the entire company.
Shares of Albemarle Corp fell more than 2 percent on Monday.
Chile aims to find new copper markets and expand its lithium industry as it seeks to shield its economy from a U.S-.China trade war.
Albemarle requested an increase of 258,446 metric tons of Metallic Lithium Equivalent but the government says the information provided was not sufficient to justify the increase.