Latin America

Colombian coal mine flooding kills 12

Cecilia Jamasmie | October 31, 2014
Colombian coal mine flooding kills 12

A perforation made in a subterranean water source had flooded the underground mine late Thursday.

Chile copper output down in sept. 2014 on shutdowns at major mines

Shanghai Business Review | October 30, 2014

Data published by the National Statistics Institute of Chile (INE), shows the country’s copper output has dropped by 5% during the month of September this year.

Weak iron ore prices cause Vale $1.44 billion loss in Q3

Cecilia Jamasmie | October 30, 2014
Weak iron ore prices cause Vale $1.44 billion loss in Q3

While the miner produced a record amount of iron ore, turmoil in currency and commodity markets overshadowed any production gains.

Goldcorp takes $36 million writedown on Mexican mine

Cecilia Jamasmie | October 30, 2014
Goldcorp takes $36 million writedown on Mexican mine

Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.

Vale’s CEO shortlisted to be Brazil’s new finance minister

Cecilia Jamasmie | October 29, 2014
Vale’s CEO shortlisted to be Brazil’s new finance minister

Analysts say only a business-friendly appointment followed by credible action to strengthen the fiscal accounts and control inflation would reassure markets.

Chile passes historic law to aid copper giant Codelco

Cecilia Jamasmie | October 29, 2014
Chile passes historic law to aid copper giant Codelco

It grants the world's No.1 copper miner an injection of US$4 billion for the next four years.

Russia pushes forward plans to mine the moon

Cecilia Jamasmie | October 28, 2014
Russia is seriously advancing plans to mine the moon

The country's ultimate purpose is to extract rare earth elements, breaking China's dominance and pushing prices down.

Oliver Gross says peak gold is here to stay

The Gold Report | October 27, 2014
Gold mines output to reach record high

Midtier producers will soon be desperate to buy low-cost, high-quality deposits.

CHARTS: This is how much gold miners really put into their host countries

Cecilia Jamasmie | October 27, 2014
This is how much gold miners really put in their host countries

Members of the World Gold Council spent last year a total of $47 billion in countries hosting their mining operations.

Anglo American ships first iron ore from Brazilian Minas-Rio project

Cecilia Jamasmie | October 27, 2014
Anglo American ships first iron ore from Brazilian Minas-Rio project

Once again Cutifani delivers — freight from Minas-Rio leaves for China by year-end and within the latest estimated budget.

This firm has more than half the copper in LME warehouses

Cecilia Jamasmie | October 27, 2014
This firm has more than half the copper in LME warehouses

That is worth around $534-$854 million, based on prices of $6,675 per tonne.

Kinross to sell halted Ecuador gold project to Lundin company

Reuters | October 26, 2014

Kinross Gold Corp has agreed to sell its halted Fruta del Norte gold project in Ecuador to a company belonging to the Swedish-Canadian Lundin family for $240 million, Kinross and the company, Fortress Minerals Corp. said.

Brazil’s Vale close to becoming world’s largest nickel producer

Cecilia Jamasmie | October 24, 2014
Brazil’s Vale close to becoming world’s largest nickel producer

The miner beat estimates after logging a 16% jump in Q3 nickel production, taking total output of the metal this year to 201,400 metric tons.

Rio’s Walsh gets big backing from shareholders, to stay longer as CEO

Cecilia Jamasmie | October 23, 2014
Rio’s Walsh gets big backing from shareholders, to stay longer as CEO

The move is seen by analysts as an attempt to strengthen the firm’s image.

Caterpillar posts strong results despite poor mining sales

Cecilia Jamasmie | October 23, 2014
Caterpillar posts strong results despite poor mining sales

The equipment maker beat analysts' expectations and the stock is skyrocketing in premarket trading.

Caterpillar global sales down 10% in September

Cecilia Jamasmie | October 22, 2014
Caterpillar global sales down 10% in September

The equipment maker is scheduled to report third-quarter earnings Thursday.

El Salvador gold mine dispute to be decided in the U.S.

EFE | October 22, 2014

The fate of the El Dorado gold mine won’t be resolved anywhere near this tiny Central American country. Rather, it’s being weighed by a three-judge tribunal on the fourth floor of the World Bank headquarters in Washington.

Copper mining has a dirty problem

Frik Els | October 21, 2014
Copper mining has a dirty problem

Arsenic in concentrates.

Fortress Minerals to acquire Fruta del Norte project for US$240 million

Michael Allan McCrae | October 21, 2014
front dump truck mining

Changing its name to Lundin Gold.

Citibank acquires Deutsche commodities trading book

Cecilia Jamasmie | October 21, 2014
Citibank acquires Deutsche commodities trading book

Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.

Chile’s Codelco to seal $1 billion deal with the UK

Cecilia Jamasmie | October 21, 2014
Chile’s Codelco to seal $1 billion deal with UK

The giant copper miner is also planning to sell about $8 billion of bonds over the next five years to help finance a nearly $30bn investment program aimed to revamp its aging mines.

Travis McPherson - CEO.ca

The Lundin’s look to Chile for copper’s next run

Travis McPherson - CEO.ca | October 21, 2014
The Lundin’s look to Chile for copper’s next run

The firm is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces of gold resources (only two of the deposits have resource estimates on them).

Chilean authorities divided over Goldcorp's $3.9bn El Morro mine

Cecilia Jamasmie | October 17, 2014
Chilean authorities divided over Goldcorp's $3.9bn El Morro mine

The country’s environmental authority criticized the Top Court decision saying the miner conducted proper consultation with local indigenous groups and shouldn’t have to do it again.

Chile copper boom begins to fade as production headaches mount

Reuters | October 17, 2014
chile- flag2

The shine may soon come off Chile's decade-long copper boom as technical and regulatory problems in getting new mines into production highlight just how hard it will be to keep ratcheting up the supply.

Vale to ditch 20% of its nickel assets in Indonesia

Cecilia Jamasmie | October 17, 2014
Vale to ditch 20% of its nickel assets in Indonesia

The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.

Copper price below $3 as mines add a million tonnes

Frik Els | October 16, 2014
Copper price below $3 as mines add 1 million tonnes

Copper price sinks to 10-month low after new report says mine capacity representing 6% of current production will come on stream over the next six months.

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