Chile Mining News

Latin American mining investment boom continues unabated

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.

Copper price: Codelco says strong stomachs will be needed this year

Can it really be worse than last year, when the copper price dropped 26% in a single month?

Chile’s copper export revenue drops 8% to $3.6 billion in April

Chile’s copper export revenue fell 8% to about $3.6 billion in April 2012, compared to the same period last year, when it was lifted by high prices of the commodity, the country’s Central Bank informed today.

Antofagasta shares hit by copper and gold production falls

Shares of Chilean miner Antofagasta PLC (LON:ANTO) were down over 4% at 11:20 ET after the company announced yesterday that its first-quarter copper production fell almost 13% amid rising development and maintenance costs.

Blockade lifted at BHP's Escondida mine

Mine access roads blockaded by contractors at BHP Billiton's Escondida mine have been re-opened.

Contractors protest at BHP Billiton's Escondida in Chile

Contract workers blocked some roads to Chile's Escondida copper mine, the world's largest, on Thursday in a bonus dispute, although production operations weren't halted

Barrick makes investors day by hiking dividend 33%

Barrick Gold Corp. (TSX:ABX) increased its quarterly dividend by 33%, as the company announced Wednesday a 3% increase in its first-quarter profit.

Courts tell Goldcorp to suspend El Morro construction

The Supreme Court of Chile suspended Goldcorp's (GG: NYSE; G: TSX) environmental permit for the El Morro copper-gold project.

Teck cashes in on Chile’s copper

For centuries, pilgrims have thronged to the Chilean mountain town of Andacollo – to worship at the historic church and to mine the dusty hills for copper. Now a new wave of pilgrims is worshipping at the altar of Andacollo – Canadians, in the form of Teck Resources Ltd., which that has spent more than US$ 440 million expanding an open-pit copper project on the edge of town.

Argentina's Supreme court demands environmental reports used to approve Barrick's Pascua Lama

The Argentine supreme court has ordered the national and the San Juan provincial governments to submit the environmental reports that were used to approve Canadian miner Barrick Gold's (NYSE: ABX) bi-national Pascua Lama gold-silver project, a source from the court told BNamericas.

Chile placer gold mining

Before coming to Santiago, I had thought of Chile as a place of copper mines. Today I learnt that gold was and is a major mined product of Chile.

Teck files environmental assessment for Chilean project

Teck Resources' epic $5.6 billion Quebrada Blanca copper-molybdenum mine expansion has taken another step ahead.

New WesTech representative for mining equipment in Chile

Beginning May this year, PROJECT SUPPLY Ltd. (PSL)., a complete solution provider focused in the mining industry, will represent the sales of WESTECH mining equipment in Santiago, Chile.

Chilean court denies Codelco bid to freeze Anglo American's dividends

Diversified miner Anglo American Plc. (LON:AAL) announced today the 14th Civil Court of Santiago has rejected state copper giant Codelco's latest petition to freeze 49% of the dividends paid by the Sur Division of the London-based miner.

Vast new copper supplies depressing prices? Don't worry, it's never going to happen

A senior trader in the red metal says “the miners are all lying” about the chances of their projects actually coming on stream.

Chilean mining industry faces looming energy crisis

Chile will not be able to keep mining for copper, gold and other minerals if the government does not address the country's pressing energy needs, a mining conference in Santiago heard this week.

Asian investors pile into South American Silver with $16 million private placement

South American Silver has inked a $16 million deal with Asian investors to go towards its exploration projects in Bolivia and Chile.

British government urges Anglo American and Codelco to reach amicable resolution

Chile's state-owned mining company Codelco, the world's largest copper producer London-based Anglo American (LSE: AAL) should try reaching a negotiated solution to the ongoing dispute about Codelco’s stake in Anglo’s Sur unit, said British ambassador to Chile, Jon Benjamin.

Copper prices will hit bottom before rising in latter part of 2012

Copper prices will continue dipping but only until the middle of this year, at which point they should start rising again, according to the latest Thomson Reuters’ GFMS Copper Survey and members of the industry.

OZ Minerals, Southern Copper shopping for South American mines

US-based Southern Copper and Australia's Oz Minerals are both looking to acquire assets in South America, according to media reports Wednesday.

Kingsgate opens door for Chilean silver mine

A takeover of the Chilean assets of a small Australian firm two years ago has given Kingsgate Consolidated the opportunity of developing another silver mine.

Business as usual for mining companies despite todays’ earthquake in Chile

Chile’s state-owned mining company Codelco, the world’s largest copper producer, reports normal operations following an early morning earthquake northeast of the port city of Valparaiso and which registered 6.7 on the Richter scale.

Mining companies to benefit from updated FTA between Canada and Chile

Canadian Prime Minister Stephen Harper and Chilean President Sebastian Piñera signed yesterday an agreement to upgrade the free trade deal between their two nations, which will benefit several miners with presence or planning to explore in the South American country.

$1.7 billion in business as a result of Expomin 2012

1,300 exhibitors, 5,000 new products, 35 countries represented, 70,000 visitors and nearly $1.7 billion in future business is the result of ExpoMin 2012, the world mining congress held April 9 to 13 in Santiago, Chile.

Codelco buys in copper to meet deliveries

The world's largest copper miner has been forced to buy from other miners and traders to meet its deliveries to customers, a rare move that underscores how the mining industry is struggling to lift output to meet demand for the red metal.