Latin America

Endeavour Silver hits bonanza silver grades at its Mexican San Sebastian property

After dreary drilling results last year, Canadian junior miner Endeavour Silver (TSX: EXK), announced exploration drilling at the San Sebastian property in Mexico has discovered a new high grade silver-gold mineralized zone in the Terronera vein.

Anglo and Codelco restart talks to end dispute

The frantic legal battle between diversified miner Anglo American (LON:ALL) and its Chilean adversary Codelco, the world’s largest copper producer, was put on hold as the parties announced they were entering into talks.

AndeanGold signs agreement to acquire Gitennes' 40% interest in Urumalqui Ag-Au project, Peru

AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of primarily precious metals properties, principally in Peru and Ecuador.

Australian miners should seek business opportunities in Latin America: Government

Australian Foreign Minister, Bob Carr, called local mining companies to look at Latin America as a business destination, as the region was emerging as an important economic powerhouse, hungry for Australian investment.

Australian Crusader Resources to invest $400 million in Brazil gold mine

Australian company Crusader Resources Ltd. will invest $400 million in a gold mining project located in the Currais Novos region in Brazil’s north-eastern state of Rio Grande do Norte. The project is expected to be one of the biggest gold mines in the country.

Rio Tinto sells aluminum business for $185 million

In what it seems a move towards exiting the aluminum wire business, diversified miner Rio Tinto (LON & NYSE:RIO) announced it is selling its U.S.-based wire and cable business Alcan Cable to American company General Cable (NYSE: BGC) for $185 million.

Vale losing iron ore marketshare to Rio, BHP

Stricter environmental rules on new mining projects, combined with soaring labour costs, are making Vale SA, the world's leading iron ore exporter, less competitive against Australian rivals Rio Tinto and BHP Billiton.

Continental Coal to acquire half of Colombian coal mine

South African thermal coal producer Continental Coal is seeking to augment its coal assets with a property in Colombia. The ASX and AIM-listed company (ASX:CCC; AIM:COOL) said yesterday it has entered into a JV agreement to acquire a 50% interest …

McEwen considers selling the Los Azules Project in Argentina

McEwen Mining (TSX and NYSE:MUX) President and CEO Rob McEwen on Thursday cautioned shareholders that recent energy-industry expropriation and Argentina government policy decrees augured negatively for its San José silver/gold mine and other development projects.

Inmet finances Cobre Panama under majority ownership

Toronto-based major Inmet Mining has opted to retain its majority interest in the world-class Cobre Panama copper-gold project through development financing, as the company announced a hybrid plan that would see it shoulder the bulk of a US$6.2 billion capital expenditure (capex) requirement aimed at putting the project into production by 2016.

Peru’s illegal mining exports problem worse than drug trafficking: report

Peru’s illegal mining exports reached $1.8 billion in 2011, exceeding even drug trafficking profits, which accounted for $1.2 billion, said local consultancy firm Macroconsult.

Extorre looks to high-grade open pits to fund Cerro Moro development

Extorre Gold Mines looks for ways to minimize dilution as it advances its Cerro Moro project in Argentina closer to possible financing.

Pan American Silver 1Q net falls 46% due to Mexican acquisition

Pan American Silver Corp. (TSX: PAAS, NASDAQ: PAA.T) first-quarter profit fell 46% as the costs of acquiring a Mexican gold and silver operation covered a revenue increase.

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.

Vale not retaliating against mega ship ban

The world's top iron ore exporter, Brazil's Vale, is not excluding Chinese shipowners from transporting its iron ore and remains open to selling its huge dry bulk carriers to them, industry officials said on Wednesday.

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?

Is Mexico set to become a gold superpower?

Mexico, the world’s largest silver producer, is expected to become the next source of “mega” gold projects as experts predict its bullion production will increase considerably in the next five years.

Fifth largest coal deposit in the world found in Colombia

Brazilian tycoon Eike Batista just got richer. CCX, a division of the billionaire’s EBX Group energy arm MPX, announced it has completed a study of coal reserves in the San Juan underground mines in Colombia, discovering a 672 million tons reserve, the fifth largest coal deposit in the world.

Barrick looking to extend mine life in Peru

Canadian mining company Barrick Gold Corp. (ABX, ABX.T) is hoping to extend the mine life at its Peru operations as it aims to increase reserves through exploration projects, said Darrell Wagner, the general manager of local subsidiary Minera Barrick Misquichilca SA.

Baja CEO resigns, stock up 10%

Baja Mining stock was up 10% today after the embattled junior miner announced its CEO has resigned.

Barrick Gold sees 2012 Peru output down slightly

Barrick Gold, the world's largest gold producer, said on Monday its production of the yellow metal in Peru should be slightly lower this year than in 2011.

Colombia Crest Gold discovers additional anomalous gold zones at the Arabia Area, Colombia

Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX-V: CLB)(ECRTF.PK)(EAT) is pleased to announce two additional areas of anomalous gold were defined by the latest soil sample results, bringing the total to four large porphyry targets at the Arabia Porphyry Gold-Copper Complex, Antioquia Province,Colombia.

TNR Gold receives third party proposal and provides Los Azules project update

TNR Gold Corp. (the "Company") (TSX VENTURE:TNR.V – News) has received an unsolicited proposal from a third party to merge with TNR and to acquire TNR's wholly owned subsidiary Compania Minera Solitario Argentina S.A. ("Solitario"). The Company has called a meeting of the TNR Board of Directors to determine whether the proposal is sufficiently attractive to commence exclusive negotiations with the third party, and also to consider its other strategic alternatives.

VANCOUVER, BRITISH COLUMBIA–(Marketwire – May 11, 2012) – TNR Gold Corp. (the "Company") (TSX VENTURE:TNR) has received an unsolicited proposal from a third party to merge with TNR and to acquire TNR's wholly owned subsidiary Compania Min…

Sandstorm Gold acquires two NSR royalties from Magellan Minerals

Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX VENTURE:SSL) is pleased to announce that it has acquired from Magellan Minerals Ltd. ("Magellan") (TSX VENTURE:MNM), a 2.5% net smelter returns royalty ("NSR") on the Coringa gold project ("Coringa") and a 1.0% NSR on the Cuiu Cuiu gold project ("Cuiu Cuiu") both of which are located in Para state, Brazil.

Vale's $4 billion Apolo iron ore project in Brazil jeopardized

Mining giant Vale (NYSE:VALE) is having second thoughts about going ahead with its $4 billion Apolo iron ore project in southeast Brazil, which may be affected by the federal government's decision to create a nature reserve in the area.