Latin America

Codelco now mines copper for $1.40 a pound

Frik Els | August 28, 2015
Codelco now mines copper for $1.40 a pound

Chile's state-owned giant slashes costs 11% and boosts production as it takes the fight to the competition amid slumping copper price.

Freeport-McMoRan cuts spending, production and jobs: shares soar

Cecilia Jamasmie | August 27, 2015
Freeport-McMoRan cuts spending, production and jobs: shares soar

The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.

Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile

Cecilia Jamasmie | August 27, 2015
Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile

The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.

About 80% of Colombia’s gold output comes from illegal miners — Gov't

Cecilia Jamasmie | August 27, 2015
About 80% of Colombia’s gold output comes from illegal miners — Gov't

Authorities say the $2.5 billion illicit mining industry is creating a parallel economy that is deemed to damage the business of those who operate legally.

Frik Els

Iron ore still in a bull market. What does it say about China?

Frik Els | August 26, 2015
Iron ore is still in a bull market

No commodity is more exposed to China and the iron ore price is up 20% from its 2015 low. Has the steelmaking raw material become a leading indicator?

Jim Rogers: Commodity bull market hasn't gone away

Frik Els | August 26, 2015
Jim Rogers: Commodity bull market hasn't gone away

Commodity investing legend says the Chinese market is on its way to "finding a good bottom."

Vale sells Integra coal mine in Australia to Glencore and Bloomfield

Cecilia Jamasmie | August 26, 2015
Vale sells Integra coal mine in Australia to Glencore and Bloomfield

The sale follows last month’s touted deal with Stanmore Coal, which bought Vale's Isaac Plains coal mine for just a dollar.

Canada, Australia, US, Chile and Mexico, the top destinations for mining investors

Cecilia Jamasmie | August 25, 2015
Canada, Australia, US, Chile and Mexico, the top destinations for mining investors

Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.

Gold Fields offers $10k for new algorithm to classify gold ore

Cecilia Jamasmie | August 25, 2015
Gold Fields offers $10k for new algorithm to classify gold ore

The goal is to develop an image algorithm that can classify material in a gold mine as high, medium or low grade ore, or waste.

BHP Billiton posts worst profit in over 10 years

Cecilia Jamasmie | August 25, 2015
BHP Billiton posts worst profit in over 10 years

As prices for the company's four key "pillar" commodities —iron ore, metallurgical coal, copper and oil and gas — have all dropped to multi-year lows in the past 12 months.

Anglo American sells copper mines in Chile to UK investment firm

Cecilia Jamasmie | August 24, 2015
Anglo American sells copper mines in Chile to UK investment firm

The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.

Frik Els

Mining private equity is being fundamentally transformed

Frik Els | August 23, 2015
Mining private equity is being fundamentally transformed

Appian Capital founder Michael Scherb: "You're now seeing the same changes in mining that happened in oil and gas which is now heavily supported by PE"

Latin American mines are most dissatisfied with the cost of maintenance and servicing

Timetric | August 20, 2015

New study shows mines throughout Latin America are dissatisfied with their Original Equipment Manufacturers (OEMs) over cost-related factors, in particular maintenance and servicing costs.

Decision in Rio Tinto’s case against Vale over Simandou imminent— report

Cecilia Jamasmie | August 19, 2015
Decision in Rio Tinto’s case against Vale over Simandou imminent— report

New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.

Glencore stock getting hammered as China slowdown, commodities rout hit profit

Cecilia Jamasmie | August 19, 2015
Glencore stock getting hammered as China slowdown hits profit

The world's leading commodity trader stock slumped to a record low Wednesday after it revealed it swung to a steep first-half loss of $676 million.

Canadian miner profit hit by Codelco’s striking contractors, snow storm

Cecilia Jamasmie | August 19, 2015
Canadian miner profit hit by Codelco’s striking contractors, snow storm

Cerro Grande said the events had adversely impacted operations at its Pimenton mine in Chile, and will have a negative impact on its fourth fiscal quarter, ending Sept. 30, 2015.

Copper down to fresh six-year low after China market falls

Cecilia Jamasmie | August 18, 2015
Copper down to fresh six-year low after China market falls

The red metal dropped to $5,012 on trading on the London Metal Exchange, approaching the level of $5,000 it last hit in late 2008.

Goldman Sachs abandons physical commodities after coal division sale

Cecilia Jamasmie | August 17, 2015
Goldman Sachs abandons commodities after coal division sale

The firm began disposing mining assets last year, as prices for most commodities began a downward trend and U.S. regulators increased pressure on banks to get out of risky businesses.

Barrick Gold reshuffles top management team

Cecilia Jamasmie | August 17, 2015
Barrick Gold reshuffles top management team

Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.

Construction begins at Colombia's first gold mine in 20 years

Andrew Topf | August 16, 2015
Earthworks construction begins at the San Ramon gold mine. Image courtesy of Red Eagle Mining.

Red Eagle Mining (TSXV:RD) is spending $120 million to open Colombia's first gold mine in two decades.

Vale ordered to halt production at giant Amazon nickel mine

Frik Els | August 14, 2015
Vale ordered to halt production at giant Amazon nickel mine

Judge also orders compensation for indigenous people in the region following protests at mine responsible for 9% of Brazilian giant's nickel output.

Glencore sells stakes in three assets, gets only $290 million

Cecilia Jamasmie | August 14, 2015
Glencore sells stakes in three assets, gets only $290m

Investors weren't happy with the news. The stock dropped to record lows Friday, becoming the top loser on FTSE 350 mining index.

Glencore hit by $790 million writedown, cuts spending

Cecilia Jamasmie | August 13, 2015
Glencore hit by $790 million writedown, cuts spending

The company's action on spending follows sharp falls across commodity prices this year.

Global gold demand hits six-year-low as China, India buy less

Cecilia Jamasmie | August 13, 2015
Global gold demand hits six-year-low as China, India buy less

Total bullion demand dropped 12% in the second quarter of the year, due in part to directionless prices, the WGC says.

Iron ore price rally safe from yuan devaluation

Frik Els | August 12, 2015
Yuan devaluation won't impact iron ore price

High cost domestic Chinese iron ore mines will stay shut, boosting already surging imports.

Dr Copper making way too much of China devaluation

Frik Els | August 11, 2015
Dr Copper making way too much of China devaluation

Bellwether copper price falls to fresh six-year low after China devalues currency, but new report says market reaction is a knee-jerk one.

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