Latin America Mining News

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.

20-billion-tonne iron ore mine in Bolivia in jeopardy

Malaysian News Agency Bernama.com reports that a huge iron ore mine in Bolivia may be doomed as a result of conflicts between the proponent and the Bolivian government.

Nickel price alarm bells ring for Mirabela

Perth-based Mirabela Nickel's share price has continued to slide today after dropping 30 per cent yesterday, which prompted a "please explain" by the Australian Securities Exchange and a one-day trading halt.

Chinalco Mining seeks $1 billion IPO for massive Peru copper mine

With huge investments in Peruvian copper, Chinalco Mining, a division of the giant Aluminum Corp of China, follows another Chinese state-owned miner to the Hong Kong market to raise money.

Zincore announces strategic partnership with First Quantum Minerals to accelerate work on copper and zinc projects

Zincore Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore" or the "Company") is pleased to report that it has entered into a strategic partnership with First Quantum Minerals Ltd. (TSX:FM)(LSE:FQM) ("First Quantum") Under the terms of a binding Memorandum of Understanding ("MOU"), First Quantum's wholly-owned subsidiary, FQM (Peru) Ltd will make a strategic investment in Zincore via private placement for 19,113,874 common shares at $0.20 per share (the "Private Placement") and fund the advancement of Zincore's Dolores copper porphyry project through exploration and, if warranted, development and production. The Dolores project is located in the prolific Yauri-Andahuaylas Copper District of southern Peru, approximately 40 kilometres from the Haquira deposit, which First Quantum is currently developing.

Potash is a diamond in the rough for the Republic of Congo

Australian junior Elemental Minerals (ASX, TSX: ELM), which is developing a potash project in the Republic of Congo, announced it has increased measured and indicated resources at its Kola deposit by 265% to just under one billion tons.

Golden Reign Completes Early Earn-In of 80% Interest in Flagship San Albino-Murra Gold Property, Nicaragua

Golden Reign Resources Ltd. (the "Company" or "Golden Reign") (TSX VENTURE:GRR) is extremely pleased to announce that it has earned an undivided 80% interest in the San Albino-Murra Gold Property (the "Property"), Nueva Segovia, Nicaragua.

Chile’s copper export revenue drops 8% to $3.6 billion in April

Chile’s copper export revenue fell 8% to about $3.6 billion in April 2012, compared to the same period last year, when it was lifted by high prices of the commodity, the country’s Central Bank informed today.

Canadian Baja Mining continues to struggle over funding for Mexico project

Canadian miner Baja Mining Corp (TSX:BAJ) said on Monday it won’t be able to continue with its copper/cobalt/zinc project in Mexico beyond mid-June, unless it finds a way to fund cost overruns quickly.

Canadian Inmet set to kick off construction at Cobre Panama

Inmet Mining Corporation (TSX:IMN) has launched a $1 billion senior unsecured notes offering as part of a total finance plan for the $6.18 billion copper/gold/molybdenum project Cobre Panama.

Is this Baja Mining's ‘Et tu, Brute?' moment?

A recent turn of events in an escalating fight between Baja Mining and dissident shareholder, Mount Kellett Capital Management, might seem to share a little of the plot from William Shakespeare's Julius Caesar: Faithful directors once opposed to this very dissident group that has demanded a shakeup of management and directors suddenly cross the line to support the very force trying to oust incumbents to which they were once loyal.

Antofagasta shares hit by copper and gold production falls

Shares of Chilean miner Antofagasta PLC (LON:ANTO) were down over 4% at 11:20 ET after the company announced yesterday that its first-quarter copper production fell almost 13% amid rising development and maintenance costs.

Argentina's Parliament approves YPF takeover bill, irritating mayor foreign investors

Argentina's Congress voted 208-32 to move forward with a bill giving President Cristina Kirchner the green light to seize a 51% stake in the country's largest oil and gas producer, YPF SA from Spain's Repsol YPF SA.

Why every miner wants to be Colombia’s new best friend

Once tinted by drug cartels and civil war, Colombia is now one of Latin America’s fastest growing markets and, according to the World Bank, the most secure country in the region in which to do business. Since yesterday, the country also has a new national mining agency, which is already looking for foreign investments to expand existing production and explore areas where rich deposits of key resources are suspected.

Torex Announces Measured and Indicated Resource of 4.8 Million Ounces of Gold at Morelos

Torex Gold Resources Inc. (the "Company" or "Torex") (TSX:TXG) is pleased to announce an updated National Instrument ("NI") 43-101 compliant measured and indicated mineral resource estimate ("M & I") of 4.8 million ounces of gold at its 100% owned Morelos Gold Project in Mexico.

Blockade lifted at BHP's Escondida mine

Mine access roads blockaded by contractors at BHP Billiton's Escondida mine have been re-opened.

Eldorado Gold reports $67 million profit in Q1

Gold miners were caught in an ugly slide in the S&P/TSX Composite Index today, which shed 215 points in reaction to another poor economic report coming out of the US.

Contractors protest at BHP Billiton's Escondida in Chile

Contract workers blocked some roads to Chile's Escondida copper mine, the world's largest, on Thursday in a bonus dispute, although production operations weren't halted

Brazil mining investment to top $75 billion by 2016

Brazilian investment in mining is about to shatter a five-year record.

Grupo Mexico profit jumps 35% on higher production

Major copper producer Grupo Mexico reported a 35% jump in first-quarter profit, helped in part by higher mine production numbers.

Colombia to spend nearly $1.3 billion in coal-related ports expansions

Colombia’s leading coal producers are increasing investments dramatically to improve and expand their ports, in what is considered a key move for rising coal production in the country to 120 million tons within by 2014.