While appetite for copper-mining assets is picking up, a supply crunch is imminent, experts say.
Latin America Mining News
Valcambi, the Swiss gold refiner, announced today that it is entering into a long-term supply agreement with the Minera Limata Limitada mining co-operative Concession AFC 12 (LIMATA AFC 12), a small-scale mine near Puno, South Peru.
"The church but the entire world is worried about the environmental degradation that unregulated mining activities are causing in the Bolívar and Amazonas states."
The miner is withdrawing from the World Coal Association over a clash of views on how to fight climate change, with BHP saying it’ll reap little benefit from staying on as a member.
The leak in the pipeline, which carries slurry to a port in Rio de Janeiro state, occurred on March 12 and forced the miner to suspend operations until March 27.
All that can be said with confidence is that, for the next few years, both supply and demand will grow strongly.
Company now owns 90% of Compañía Minera Teck Quebrada Blanca, which main asset is the namesake copper project in Northern Chile.
Healthy demand for molybdenum rich stainless steel, especially from the oil and gas industry, plus sluggish supply growth are expected to keep the price of this minor metal riding high.
Caserones said in a statement the rest of the mine remained in operation.
It said the leak of non-hazardous iron ore slurry was stopped within eight minutes and caused no disruption to local water supply.
Cobalt, nickel still on the boil, but gloomier outlook reflected in copper price and fall in market value of top mining companies during first quarter.
The new proposal would create an exception to an existing company statute that regulates the voting power of SQM's shareholders.
Nelson Pizarro, who took the post in 2014, has played a critical role in the drive to reduce spending and force a reduction in costs, while kicking off a major overhaul of Codelco’s aging mines to deal with dwindling ore grades.
French power company Engie SA is closing all of its coal-fired power plants in the country. It plans to replace the capacity with renewable energy.
Jujuy, Salta and Catamarca decided to join forces.
A document by Brazilian environmental watchdog Ibama seen by Reuters said Anglo American would only be allowed to resume operations once it demonstrates the pipeline's security.
Earlier on Thursday, Codelco CEO Nelson Pizarro called on workers to show restraint and moderation in negotiations.
Chile's state copper company Codelco said on Thursday it produced 1.734 million tonnes of copper in 2017, its second highest output ever.
Company is adding new exploration drill rigs to its Drilling Services fleet around the world to meet the demand of expanding exploration budgets.
The company said its founder and chairman emeritus, Peter Munk, passed away Wednesday in Toronto, surrounded by his family.
Operations at La Coipa mine, located in in northern Chile, were halted in 2013, when the targeted orebody run out of riches.
The miner is working towards reactivating its Aranzazu and São Francisco gold projects in Mexico and Brazil, respectively.
The Japanese energy and metals company said the impairment loss at its Caserones copper mine in Chile was due to higher production costs.
Oz Minerals offers top dollar for Avanco which boasts top private equity players and Glencore as major shareholders.
The accident killed 19 people, left hundreds homeless and unemployed and caused sludge to wash downstream into the neighbouring state of Espírito Santo.