Latin America

Codelco El Teniente mine expansion to take longer, cost $2bn more

Cecilia Jamasmie | December 19, 2014
Codelco El Teniente mine expansion to take longer, cost $2bn more

The touted expansion of the world's largest underground copper mine is two to three years behind schedule and will require $2 billion more than initially planned, said the company.

PDE and CIBJO agree to develop programs to promote Corporate Social Responsibility in Latin American jewelry sector

Panama Diamond Exchange | December 18, 2014
2PDE

The Panama Diamond Exchange and CIBJO, the World Jewellery Confederation, have agreed to join forces in providing educational programs for the gemstone and jewelry sectors in Latin America, instilling the principles of Corporate Social Responsibility.

Judge turns down Vale bid to dismiss Rio Tinto lawsuit in U.S.

Cecilia Jamasmie | December 18, 2014
Judge turns down Vale bid to dismiss Rio Tinto lawsuit in U.S.

The court said Vale had failed to convince him to dismiss the case in which it is accused of conspiring to steal Rio's rights for part of iron ore reserve potentially worth billions.

Iron ore hits new low after weakest China imports in 16 years

Frik Els | December 17, 2014
New iron ore price low after weakest China imports in 16 years

Benchmark iron ore price drops to fresh five-and-a-half-year low after November Chinese imports fall for the first time since 1998.

Coeur Mining acquires Paramount Gold and Silver for $146 million

Cecilia Jamasmie | December 17, 2014
Coeur Mining acquires Paramount Gold and Silver for $146 million

As part of the agreement, Paramount will spin off its non-Mexican assets into a standalone publicly listed company— Paramount Nevada Gold Corp.

Harsh words on Barrick Gold prospects

Frik Els | December 16, 2014
Barrick to push ahead with Pascua Lama, ‘no margin for error’

Credit Suisse downgrades world's number on gold miner citing risks posed by $13 billion debt and permitting, tax challenges.

Pacific Potash mining rights in Brazil jeopardized over unpaid tax

Cecilia Jamasmie | December 16, 2014
Pacific Potash mining rights in Brazil jeopardized over unpaid tax

The Vancouver-based miner said it did not receive the funds wired to pay the tax for "unknown reasons."

Miners back to work at Peru’s Antamina copper mine

Cecilia Jamasmie | December 15, 2014
Miners back to work at Peru’s Antamina copper mine

This was the second time that Antamina’s workers down tools in about a month over demands for a bonus and other benefits.

Fourteen of the world's largest diamond companies moving into new Panama Gem & Jewelry Center

Panama Diamond Exchange | December 15, 2014
PDE2

The Panama Gem & Jewelry Center is the largest and most ambitious development project ever undertaken on behalf of the jewelry and gemstone trades in Latin America.

VIDEO: Cat machines destroy world's tallest sand castle

Cecilia Jamasmie | December 15, 2014
VIDEO: Cat machines destroy world's tallest sand castle

Well, they built it, so they were entitled to do whatever they wanted with the new Guinness World Record holder for the highest sand-made fort.

New strike hits Peru's largest copper mine

Cecilia Jamasmie | December 11, 2014
New strike hits Peru's largest copper mine

Unionized workers at Antamina downed tools at midnight Wednesday.

Fourth Batista company goes bankrupt

Frik Els | December 10, 2014
Fourth Batista company goes bankrupt

Disgraced Brazilian tycoon once held 90% of power utility worth $3.2 billion just three years ago.

Miners in Guatemala to pay ten times more royalties

Cecilia Jamasmie | December 10, 2014
Miners in Guatemala to pay ten times more royalties

President Otto Perez Molina has approved a new rule passed by the Congress last week, which rises taxes to transnational miners operating in the country from 1% to 10%.

Largo commences pre-feasibility study of PGM by-products at its Maracas Menchen Mine

Vorticom, Inc | December 10, 2014

Largo Resources Ltd. ("Largo" or the "Company") is pleased to announce that it has commenced a pre-feasibility study ("the Pre-Feasibility Study" or "the Report") on the potential to produce salable platinum concentrates at its Maracas Menchen Mine in Bahia, Brazil.

Hochschild slashes management pay, turns chairman into non-executive

Cecilia Jamasmie | December 10, 2014
Hochschild slashes management pay, turns chairman into non-executive

The miner has set out changes to the chairman's role and, as part of its on-going cost cutting program, is further cutting board pay.

Yamana Gold to group Brazil mines under new unit

Cecilia Jamasmie | December 10, 2014
Yamana Gold to group Brazil mines under new unit

The miner became the latest company to spin off non-core, underperforming assets.

Larger players account for 40% of global exploration budgets

SNL Metals & Mining | December 9, 2014
Low metal prices put chill on global mineral exploration

A study of about 40 explorers budgeting at least US$50 million total shows the larger players allocated a total of US$4.33 billion and accounted for 40% of the US$10.74 billion worldwide exploration total.

Anglo American struggling to meet targets, mulls coal assets sale

Cecilia Jamasmie | December 9, 2014
Anglo American struggling to meet targets, mulls coal assets sale

Anglo’s boss Mark Cutifani says company needs to find an extra $2 billion of earnings before interest and tax to meet the return on capital target set for 2015.

Vale sells stake in Mozambique coal project to Mitsui for $763m

Cecilia Jamasmie | December 9, 2014
Vale sells stake in Mozambique coal project to Mitsui for $763m

Mitsui, which since 2003 is part of the holding group that controls Vale, is expanding partnerships with the world’s largest iron-ore miner.

Forget ‘NewCo’: BHP Billiton spin-off named South32

Cecilia Jamasmie | December 8, 2014
Forget ‘NewCo’: BHP Billiton spin-off named South 32

The waiting game is over. BHP Billiton has named its Perth-based spin-off company, appointing Graham Kerr as its chief executive.

Anglo American drops Peru copper project

Frik Els | December 5, 2014
Anglo American drops Peru copper project

Miner's belt tightening continues.

Vale to sell 15% of its $3bn Mozambique coal project to Mitsui

Cecilia Jamasmie | December 5, 2014
Vale to sell 15% of its $3bn Mozambique coal project to Mitsui

The miner confirmed Friday it is in talks “with a potential investor,” but did not name its counterpart.

Iron ore price surges

Frik Els | December 4, 2014
Iron ore price surges

Benchmark 62% fines up 3% and premiums for high quality lump ore jump to 11-month high.

The world's most corrupt countries ranked

Michael Allan McCrae | December 3, 2014
rank index feat

The least corrupt country was Denmark.

Barrick teams with Saudi Arabian miner to run copper mine

Cecilia Jamasmie | December 3, 2014
Barrick teams with Saudi Arabian miner to run copper mine

Miner may try replicate partnership with other of its stalled projects, such as Pascua Lama in South America.

Government vows to act against illegal mining in southwest Colombia

Colombia Reports | December 2, 2014

Colombia’s national government on Monday promised to act against illegal mining in the southwestern Cauca state after about 100 women had marched to Bogota and locals internationally denounced death threats.

More »