Latin America Mining News

Chile’s biggest steel and iron-ore producer to invest US$700 million this year

Chile's Compañía de Acero del Pacífico (CAP) will invest nearly US$700 million this year to develop its iron ore projects in the country, president Roberto de Andraca told reporters attending Expomin, one of the world's most important mining exhibitions, in Santiago.

Vale vs IMF: Who are you going to believe?

Using the dismal science to make forecasts and taking risks with real money are two very different things. And the Brazilian giant is definitely putting its money where its mouth is.

Peruvian company Grupo Brescia to extract copper in Chile

Peruvian company Grupo Brescia announced today that it is going ahead with plans to further diversify its investments by mining for copper in neighbouring Chile, reports Portal Minero.

One of the 33 Chilean miners trapped in 2010 ventures underground for first time since rescue

More than one billion people watched the rescue of 33 Chilean miners from a collapsed mine in 2010. Today, one of them has decided to venture underground for the first time since the accident during a tour to a Saskatchewan potash mine.

Anglo American to pump $2 billion into Brazil iron project this year

Anglo American Plc (LON:AAL) will spend over US$ 2 billion this year at its Minas-Rio 5.8-billion ton iron ore project in Brazil, the world’s second-largest exporter of the steel-making ingredient.

Endeavour Silver Reports Record Production in First Quarter, 2012; Produces 1,072,491 Oz Silver (Up 19%) and 6,321 Oz Gold (Up 26%)

Endeavour Silver Corp. (TSX: EDR.TO - News)(NYSE: EXK -News)(Frankfurt: EJD.F - News) announced today that the Company set new records for silver and gold production in the First Quarter, 2012 from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State.

Peruvian miners rescued this morning

The nine miners trapped in a high altitude underground copper mine in Peru since last Thursday are well and with their families, after they were freed this morning (12:00 GMT).

Orvana targets more gold/silver in Bolivia

The company expects the Don Mario upper mineralized zone at its gold-silver-copper mine in Bolivia to produce 12,500 gold ounces and 500,000 silver ounces, up from its earlier forecast.

Peru's trapped miners: the sinking of the Titanic and the miners who died

With a blogger’s eye, today I celebrate the miners who perished in the sinking of the Titanic. Their story epitomizes the story of all miners; people who go to the next ore body; the next mine; the next chance to earn an honest living; and who face dangers and death at every turn and move.

Energold strikes record profits after drilling a million metres in 2011

The Vancouver company earned a profit of $26.4 million on $133.5 million in revenues for the year, up 145%, after drilling an astonishing 585,900 meters for minerals and a further 444,400 meters for energy last year.

Never mistake intelligence for a bull market: George Ireland

George Ireland, portfolio manager with Boston-based Geologic Resource Partners, believes in seeing what he invests in and his passport bears witness: 80 countries visited in five years.

HudBay eyes further growth in Peru

Base metals miner HudBay Minerals is looking at expanding its asset base in Peru as it seeks to create a new hub that replicates the successes enjoyed at its mines in the Canadian province of Manitoba, the company's top executive says.

Newmont faces new protests in Peru as key report for $4.8 billion Conga project expected this week

Peru’s long-running Conga mine dispute is about to reach a turning point as international consultants appointed by the government in February finalize their environmental report on Newmont Mining and Buenaventura's US$4.8 billion copper-gold project.

Chile’s Codelco will decide future of its Chuquicamata underground mine this year

Chile’s state-owned copper giant Codelco will make a decision on the construction of an underground mine at its Chuquicamata operation before the end of this year, said CEO and Executive President Diego Hernandez.

Chile’s copper exports dropped 6.5% in first quarter

Chile’s copper exports fell 6.5% to US$10.5 billion in the first three months of 2012 from $11.2 billion in the same period last year, according to figures compiled by the country’s Central Bank.

Castro likes Trudeau; Harper, not so much

Fidel Castro said Prime Minister Stephen Harper suffers from illusions regarding resources and the extensive claims the U.S. has on Canada.

Radius Gold up 19% after B2Gold pays $20 million for properties in Nicaragua

B2Gold Corp. (TSX:BTO) announced today that it paid Can$20 million to Radius Gold for  Trebol and El Pavon Properties in Nicaragua.

Mining investments in Chile to reach $100 billion by 2020

Mining investment in Chile, the world's largest copper producer, would reach US$ 100 billion between 2012 and 2020, the National Mining Society (Sonami) said on Monday.

Peruvian miners trapped since Thursday unlikely to be rescued soon

Two or three days longer than anticipated could take rescuers to get to the nine Peruvian miners trapped 200 metres below ground since last Thursday, told reporters Oscar Valdes, cabinet chief to Peru's President Ollanta Humala.

AuRo announces private placement

The proceeds of the Offering will be used to fund continued exploration at the Company's key projects in Colombia, and for general working capital purposes.

$8.4 billion rare earth deposit discovered in Brazil

Brazilian miner World Mineral Resources (WMR) has found a large reserve of neodymium, one of the 17 rare earth elements, in the western Bahia state, which could bring US$8.4 billion to the country.

Nine trapped in collapsed wildcat mine in Peru

Nine workers trapped inside a wildcat mine in southern Peru received oxygen and liquids through a giant hose on Saturday while a rescue team toiled to get them out, officials said.

Orko Silver plunges 34% on Pan American pullout

Orko Silver crashed 34% Thursday on news that Pan American Silver is walking away from Orko's La Preciosa project in Mexico.

Top 10 gold producers: Indonesia leaves 31 tonnes underground

The price of gold averaged $1,571 an ounce in 2011 meaning the South East Asian country missed out on $1,7 billion in potential revenue.

Rio Novo details 600k ounce gold mine in Brazil

Rio Novo pegs annual production between 60,000 to 75,000 ounces gold for Brazilian project that would cost about $94 million to get up and running.