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.
Latin America Mining News
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.
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 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.
Mine access roads blockaded by contractors at BHP Billiton's Escondida mine have been re-opened.
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.
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
Brazilian investment in mining is about to shatter a five-year record.
Major copper producer Grupo Mexico reported a 35% jump in first-quarter profit, helped in part by higher mine production numbers.
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.
Brazilian Gold Corporation jumped 13.5% on Wednesday on three times usual trading volumes, after announcing positive metallurgical test work at its São Jorge deposit in northern Brazil.
Canadian Southern Silver Exploration Corp.(TSXV:SSV) announced that drilling at its Mexico’a Cerro Las Minitas project continues to extend mineralized structures at its Blind Zone and El Sol deposits.
Even after today's heavy losses it is still showing gains for the year of 86%.
Canadian junior Rio Silver Inc. (TSX.V: RYO) announced it has signed a community agreement to begin the initial exploration program at its flagship Niñobamba silver project, located about 330 kilometres southeast of Lima, in the Department of Ayacucho, Peru.
Barrick Gold Corp. (TSX:ABX) increased its quarterly dividend by 33%, as the company announced Wednesday a 3% increase in its first-quarter profit.
Yamana Gold (TSX:YRI) announced that net earnings increased 15% to $170 million, $0.23 per share in first quarter of 2012.
Newmont Mining could reallocate project funds if an ongoing evaluation of the environmental impact study for its $4.8 billion Conga mine turns economically unfavourable, CEO Richard O'Brien said.
Anglo-Swiss Xstrata Plc. (LON:XTA) reported today mixed production results for its first quarter, with copper production declining 18%, but said operating and financial performance remains strong.
Strong gold price and a tax gain helped boost the gold miner's net income to $29.5m from $17.9m a year ago
The copper miner said a 13% jump in sales amid lower operating costs during the period helped offset weaker metals prices
The Supreme Court of Chile suspended Goldcorp's (GG: NYSE; G: TSX) environmental permit for the El Morro copper-gold project.
For centuries, pilgrims have thronged to the Chilean mountain town of Andacollo – to worship at the historic church and to mine the dusty hills for copper. Now a new wave of pilgrims is worshipping at the altar of Andacollo – Canadians, in the form of Teck Resources Ltd., which that has spent more than US$ 440 million expanding an open-pit copper project on the edge of town.
The Argentine supreme court has ordered the national and the San Juan provincial governments to submit the environmental reports that were used to approve Canadian miner Barrick Gold's (NYSE: ABX) bi-national Pascua Lama gold-silver project, a source from the court told BNamericas.
North America will head global energy investments this year, driven by boom in unconventional production, with a $392 billion on upstream capital and operating expenditures in the region, say global consultants from IHS.
Newmont Mining Corp. (NYSE and TSX: NEM) reported a 9% increase in first-quarter profit to $561 million, or $1.13 a share, despite the ongoing troubles with its hindered $4.8 billion copper-gold project in Peru, the Conga mine.