Latin America Mining News

Friday frenzy for Freeport

After leaping 11% on Friday with 74m shares traded, copper giant is now worth $17.5 billion – up 274% from January lows.

Chile's cheerless outlook for copper price

Top global producer sees surplus this year and next as mines pump out more metal and predicts decline in copper price from today's levels through 2017.

Vale back in the black on higher iron ore prices, currency

Vale’s results for the first three months of 2016 makes it the best-performing major iron-ore miner so far this year.

Anglo American to sell Brazilian units to China Molybdenum for $1.5 billion

The niobium and phosphates division, which consists of mines, plants, processing facilities, chemical complexes and deposits, was one of Anglo’s more profitable businesses.

Barrick ‘is back’ chairman Thornton tells shareholders

Barrick Gold has reduced its debt load, reshuffle management and sold several assets.

Vale gives its potash project in Argentina a second chance

The miner has scaled down the project and it now aim to produce 1.3 million tons of potash a year, down from the 4 million tons originally planned.

Freeport axes oil and gas workforce as it posts sixth straight loss

The company, which is the US biggest miner by market value, is cutting 25% of its workforce to reduce debt.

Teck Resources posts better-than-expected profit as costs drop

Canada’s largest diversified miner logged a 38% increased in overall profit for the first quarter of the year.

Barrick Gold swings to quarterly loss, but trims debt further

The world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales impacted production and realized gold prices fell.

Emerging trends in the mining industry

Despite the dilemmas in recent years, which continue to persist, emerging trends in the mining industry may offer solutions — or at least opportunities for improvement industry-wide.

Barrick’s fourth CFO in five years may be what shareholders were waiting for

Most shareholders hope that Catherine Raw persuades management to stop prizing output over profitability and, instead, place more emphasis on investors’ returns.

X2 said to miss out on Anglo's Brazilian mines

Mick Davis's private equity firm not on shortlist featuring Vale, Mosaic and Eurochem for $1.5 billion phosphate and niobium operations in South America.

This insect’s guts could be key for mining remediation

The new method would allow for specialized plants, which are critical for biodiversity, to be re-established faster around old iron ore mines.

Miners spending again: $50 billion capex in five months

Confidence returns to mining sector as announced capital outlays surge to $108 billion – greenfield project spending up three-fold in first quarter.

CAT sales latest sign of mining improvement

World's number one heavy equipment manufacturer arrests sales decline in March.

Anglo shareholders revolt against Cutifani’s $4.9 million pay

Full voting results will be released on Friday.

Mongolia and Colombia tout their fair mined ecological gold

The Alliance for Responsible Mining announces today that Fairmined Ecological Gold from the Mongolian organization XAMODX and five mining organizations in la Llanada, Colombia is now available.

Newmont Mining investigating bribery allegations

The gold and copper miner didn’t specified where the alleged misconduct took place.

Iron ore soars past $70 to a 16-month high

The spot price for benchmark 62% fines gained 8.78%, the third largest surge since iron ore pricing first began in May 2009.

As prices surge, Vale joins iron ore production guidance cuts

Vale says 2016 output will come in at the lower end of expectations, potentially pushing the Brazilian giant to number two in global iron ore rankings.

Delays in rollout of autonomous technology forces Rio Tinto to cut iron ore guidance

The world's No. 2 iron ore miner has cut its production guidance for 2017 by as much as 20 million tonnes.

World's largest underground copper mine remains shut on heavy rains, mudslides

Chile's Codelco said that it loses about 1,500 tonnes of copper output for each day El Teniente mine remains inactive.

Community opposition forces Newmont to abandon Conga project in Peru

The company has removed its massive gold and copper project Peru from its list of reserves in its annual filing with the U.S. Securities and Exchange Commission (SEC).

Accident suspends work at Guatemala gold mine

A worker is missing following an accident at a Guatemala mine owned by Vancouver’s Goldcorp (TSX:G).

Heavy rains shut down copper mines in Chile

Operations at two of the world's largest copper mines have been suspended following a weekend deluge in central Chile.