Jair Bolsonaro is on the cusp of winning Brazil’s presidency, leading the latest polls by double digits, and the mining community is salivating.
Latin America Mining News
Falling gold and copper prices hurt the miner's results for the three months to Sep. 30.
Brazil's Vale SA , the world's largest iron ore producer, on Wednesday posted $1.408 billion in third-quarter net income, below the 2.23 billion a year-ago.
Q3 sees lower profit due to lower prices for gold and copper alongside higher fuel costs.
The mining community is salivating.
BMO Capital Markets has flagged a total of 13 mines that could be sold following the $6-billion merger.
The project sits on top of the Mexican Silver Trend.
Company now expects to produce between 705,000-725,000 tonnes this year, down from the earlier 705-740,000 tonnes target.
The miner, which is the world's largest primary silver producer and Mexico's second largest gold company, revised silver output guidance down to between 62 million ounces and 64.5 million ounces from a range of 64.5 million to 67.5 million earlier.
The mine applied incorrect discounts to its royalty payments over several multi-year periods.
SQM revealed a five-week delay in a project to increase annual capacity.
Merian has an estimated mine life of 15 years and is exploring on other parts of the property.
The expansion is seen as a step in the right direction for BTO to hit its long-term 1 million oz. per year target.
While prices remain stagnant and demand uncertain, the company is churning out more stones than at any other time in the past decade.
Figure is fivefold increase from August, up 3,400% y/y
The deal is part of Jacobs’ strategy to optimize its portfolio with a focus on higher-growth, higher-profit infrastructure and commercial projects - CEO
Some 800 workers, including at the port San Juan de Marcona, have taken part in the indefinite strike after negotiations over a new contract broke down.
Previ intends to reduce its stake in the miner over the medium-term.
The logic is sound: If steel mills are given pollution restrictions, they will use the best possible quality iron ore to maximise the amount of steel produced relative to the energy consumed.
Nutrien’s executive vice-president Michael Webb, described Julio Ponce, the Chilean miner’s top shareholder and former chairman, as a “hypocrite” and urged him to “look beyond himself."
He is said to have already begun training three to four people to succeed him in the job.
Ascendant is in the middle of a 30,000 metre infill drill program at El Mochito as it tries to increase mine life and reserves.
Private equity firm Waterton Global Resource Management, which now owns about 7 percent of Hudbay, called meeting after the Canadian base and precious metals refused a proposal for board changes.
The company has set up a representative office in Machala, capital of Ecuador's El Oro province, historically a gold-producing region, and will use this as a base to participate in South American projects.
Criminal groups fight to gain control of gold mines.