Latin America Mining News

Chile’s Codelco hiring for underground expansion of Chuquicamata

About 150 workers will be pre-selected as a result of the process, which closes on Dec. 24. They’ll join the over 1,100 employees already working on the much-needed project.

Newmont's cost-cutting, production plans: 'We've only just begun'

With seven greenfield projects Denver gold miner on track to increase global share of gold production to 5%.

Potash CEO meets with Chilean government amid stake sale

On Thursday, Potash Corp CEO Jochen Tilk met with authorities in Chile as the company tries to divest its minority stake in lithium miner SQM.

Biggest iron ore miner threatens to flood market if prices surge

Brazil's Vale is prepared to unleash as much as 50 million metric tons of spare capacity to balance the market if prices get too high.

Displaced by mining, Peru villagers spurn shiny new town

The remote town of Nueva Fuerabamba was built to house around 1,600 people who gave up their village and farmland to make room for a massive, open-pit copper mine.

Vale sees 2018 iron ore prices not much lower than this year

Fabio Schvartsman also said the company would do everything to resume operations as soon as possible at the Samarco mine.

Vale expects to sell up to $1.5 bln in non-core assets through 2020

The Brazilian miner revealed these expectations in a presentation to investors in New York on Wednesday.

Newmont raises output target for 2018, lowers expected costs

The world’s No.2 gold miner is also planning to boost dividend by at least 50% next year, based on balance sheet improvements and the performance of its gold mines.

Bacanora tanks as president resigns

President and director Martin Vidal has left the post effective November 30.

Vale to use cash flow to pay dividends, reduce debt -CEO

"The first thing we are going to do with the cash is pay debt, and then we are going to make this company's shareholders happy as never before," said Chief Executive Officer Fabio Schvartsman.

Rio Tinto appoints one of its own as the company’s new chairman

After a nine-month search, the miner has picked the current leader of the remuneration committee, Simon Thompson, to assume the post in March 2018.

World's top copper miner wants CEO to stay to contain costs

“A lot of people including myself are promoting the idea that Nelson continues on as CEO for a couple of years if possible,” said chairman Oscar Landerretche.

McEwen Mining to speed up Timmins exploration program

The Canadian precious metals producer announced a financing plan consisting of a $10-million bought deal private placement offering of four million flow-through common shares.

Barrick Gold just bought more than $9 million worth of shares in this junior

The non-brokered private placement gives Barrick about 15% of Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects in South America’s North Atlantic coast.

Union at Quebrada Blanca copper mine in Chile votes to strike

A union at Teck Resources’ Quebrada Blanca copper mine on Wednesday rejected a contract offer from the Canadian miner, increasing the likelihood of a strike.

Lumina Gold raises $20M to advance projects in Ecuador

Originally planned to raise $15M.

Dominican Republic presents Extractive Industries Transparency Initiative report

The country's reserves have been estimated at $60 billion for metallic and 40 billion for non-metallic resources.

Robots will run mines within the next decade, Anglo says

Anglo is betting on technology, such as computerized drills, to increase productivity, cut costs and reduce environmental impact.

PotashCorp CEO confirms Chinese interested in lithium producer SQM

Chinese firms have shown “broad interest” in buying PotashCorp’s stake in the Chilean lithium producer SQM, according to chief executive Jochen Tilk, who declined to name interested parties or the number of bids the company has received.

SolGold on a roll in Ecuador with finds at Timbara, Porvenir projects

The Ecuador-focused miner said it has discovered "promising" new copper prospects at the Porvenir and Timbara projects, with rock chip samples graded up to 4.27% copper.

Brazil mining code unchanged as Senate fails to vote on bill

Brazil’s lower house of Congress removed from the agenda the discussion of a transitory presidential decree, which modified the country’s current mining law.

Copper execs see balanced market, warn on rising costs, regulation

Representatives of major mining companies believe the global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong.

Investors force Rio Tinto to ditch plans to have Mick Davis as chairman

Decision comes in the wake of a full-scale investor revolt led by the Investor Forum, a London-based body representing some of the world’s biggest money managers.

Argonaut Gold acquires Cerro Del Gallo project in Mexico for $15 million

Gold-silver project is located on the San Anton property in central Mexico’s Guanajuato state, not far from Argonaut’s four other properties in the country.

Lawsuit could be precedent-setting for Canadian mining companies operating abroad

Legal proceedings were held last week in Toronto related to a case against a Canadian mining company that formerly was operating through a subsidiary in Guatemala.