Chile Mining News

Japanese firms to enter the lithium industry in Chile

Japanese companies such as Samsung, Toyota, Mitsubishi and Sumitomo are evaluating the recently opened option to tap into the lithium industry in Chile, local newspaper Diario Financiero published on Thursday.

BHP Billiton expects "significant increase" in copper production at Escondida mine in Chile

BHP Billiton (NYSE: BHP), the world’s largest mining company, expects to increase production at its Escondida copper mine in Chile to over 1.3Mt/y in the 2015 financial year, said CEO Marius Kloppers yesterday in a webcast to discuss fiscal H1 results.

Honduran mining set for boost from new mining law

Honduran officials are enacting regulations and signing trans-border agreements aimed at attracting new mining investment to the country.

Codelco already struggling to match 2011 copper output

Chilean state giant Codelco, the world's biggest copper producer, will have to strive this year to match record 2011 copper production of 1.735 million tonnes, said CEO Diego Hernandez to the El Mercurio newspaper's Sunday edition.

Mitsubishi to double copper output after Chile mine expansion

Bloomberg reported that Mitsubishi Corporation of Japan plans to almost double its copper output in 2012 after spending USD 5.39 billion to buy a minority stake in Anglo American Plc's Chilean unit.

Minera Copiapo's EIA for $13million seawater pipeline receives approval

Chilean mining company Minera Copiapó's environmental impact assessment (EIA) for a US$13mn project to supply water to its mining projects in northern region I has been approved, a source from the environment ministry's (MMA) regional evaluation office told BNamericas.

Anglo defends itself against 'criminal accusation' as mud flies in fight with Codelco

Anglo-American in its increasingly acrimonious fight with Codelco on Thursday had to defend itself against what it termed "the criminal accusation" made by the president of the Federation of Copper Workers in Chile who sits on the Chile’s state-owned copper giant board.

Gold junior a tantalizing takeover target?

The improbable feat of commercializing Latin America’s second largest undeveloped gold deposit has achieved a major milestone validation for its unlikely owner, a small Canadian explorer named Exeter Resource.

Caspiche gold deposit makes Exeter a takeover target

As major miners scour the globe for ever-rarer multi-million ounce gold deposits, Exeter's Caspiche deposit in Chile makes it a "tantalizing prospect".

Exeter's positive PFS for Caspiche gold-copper mega project

Exeter Resource has published results of a positive pre-feasibility study on its massive Caspiche gold-silver-copper project in Chile's Maricunga region.

Kinross down 19% after announcing Tasiast project setback

Kinross Gold (K.TO) erased 19.46% of its value, with shares dropping to $10.65 a share on Tuesday, after it disclosed that it will take ". . . a material non-cash accounting charge, primarily relating to the goodwill recorded for the Tasiast mine in connection with the 2010 Red Back acquisition."

Codelco will spend $5 billion in 2012, Chile court hands it minor victory over Anglo

Bloomberg reports Chile's state-owned firm Codelco, the world's largest copper producer, plans to invest $5 billion in 2012 on capital projects, more than twice the $2.3 billion it allocated last year. Also on Friday a Santiago court blocked Anglos from selling any more shares in its Sur subsidiary while it battles Codelco over an option to acquire 49% of its Chile operations.

Codelco now seeks 'forced enforcement' of Sur option, compensation from 'erratic' Anglos

Chile’s state-owned copper giant on Tuesday turned the screws further on Anglo-American in its bitter fight over a 49% stake in Anglo-American Sur, one of the world's richest copper deposits.

Mining – Chile – Mining regions receive just 5 pct of funds collected from royalty

Chile's mining regions are receiving just 5% of the funds collected from the royalty system being applied in the country to mining companies, according to lower house member Carlos Vilches of the righ...

Mining – Chile – Mining represents 70.1 pct of authorized FDI in 2011

Chile saw authorized foreign direct investment (FDI) in 2011 increase 4% compared to the prior year to a record US$13.8bn, of which US$9.67bn or 70.1% corresponds to mining, the economy ministry's for...

Mining – Chile – Teck submits EIA for waste handling center at Quebrada Blanca

Vancouver-based Teck (NYSE: TCK) submitted an environmental impact assessment (EIA) to the Chilean environment ministry's (MMA) evaluation service for a US$1mn project to build a new, integrated waste...

Metals – Chile – Two Codelco Ventanas executives to be charged over sulfur dioxide leak

Two executives from Chilean state copper producer Codelco's Ventanas division will be formally charged by the Quintero district attorney's office regarding their alleged responsibility for a sulfur di...

Privatization – Chile – Codelco says agreement with Anglo American looks improbable

The chances for a negotiated solution to the conflict between Chilean state copper producer Codelco and London-based Anglo American (LSE: AAL) have faded following the latter's legal action for allege...

Metals – Chile – Copper exports fall 5.2 pct in first half of December

Chilean copper exports were down 5.2% to US$1.89bn in the first half of December compared with US$1.99bn year-on-year, according to figures compiled by the central bank. Copper accounted for 90.2%...

Anglo American sues Codelco over breach of contract

Anglo American said Thursday it had filed a writ with Santiago's Court of Appeals, suing the Chilean firm for breach of contract in a dispute over its south Chilean assets.

Chile to produce 5.5 million tons of copper in 2012: trade group

Chile will produce 5.5 million mt of copper next year as new operations enter production, the country's national mining association SONAMI said Tuesday.

South American Silver's stock is up 17% after announcing four billion pound copper resource

South American Silver (TSE:SAC) stock shot up 17% in morning trading today on the Toronto Stock Exchange to $1.62 a share after the company announced the findings from its NI 43-101-qualified resource estimate of the company's Escalones copper-gold-silver project in central Chile.

Anaconda Mining sells Chilean iron ore assets to Hierro Tal Tal; Proceeds to assist in debt repayment

Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX: ANX) is pleased to announce that, pursuant to an agreement dated today, it has closed the sale of its Chilean iron ore exploration assets to a private Chilean company, Hierro Tal Tal S.A. ("Tal Tal"), for up to US$11 million in cash payments, a gross sales royalty and a 1.25% carried interest in Compania Portuaria Tal Tal S.A. ("CPTT").

Poland's KGHM bids $3.5 billion for Quadra FNX; shares up 39%

Quadra FNX Mining (TSE:QUX) is up a whopping 39% today on news of a multi-billion-dollar takeout bid. The Canadian base metals producer with offices in Toronto and Vancouver said it has agreed to have all its outstanding shares and warrants acquired by KGHM Polska Miedź S.A. (KGHM) for $3.5 billion. Quadra FNX has operating mines in Ontario, Arizona, Nevada and Chile, where the company is also developing the Sierra Gorda copper-molybdenum mine. The project is a joint venture between Quadra FNX and Japanese metals producer Sumitomo Mining.

Collahuasi strike begins to bite into output

Output of copper cathodes and copper concentrates are beginning to be affected by a work stoppage that began Monday at the giant Collahuasi copper mine in Chile. Reuters reports that the mine, jointly owned by Xstrata and Anglo American, has implemented a contingency plan to deal with the labour action, which about 10% of workers are participating in: Some workers in Collahuasi, which produces about 3 percent of the world's copper, downed tools on Monday over fears of coming layoffs. The company later on Monday announced it had laid off a "limited" number of workers in response to a partial one-day strike in October, a move that could stoke tensions between management and the union.