Peru Mining News

Gold Fields ups stake in La Cima to boost gold output

Tier 1 gold miner Gold Fields has bought nearly all the shares in a Peruvian subsidiary for $382 million to increase its attributable gold production from Cerro Corona mine.

Peru Miner Milpo to Invest $400 Million in Copper Project: Bloomberg

Bloomberg reports: Cia. Minera Milpo SA, a Peruvian zinc and lead miner, won the bidding for a copper and molybdenum deposit stripped from Inca Pacific Resources Inc. (IPR) last year and will invest $400 million in the project, the government said. Lima-based Milpo will start up the Magistral deposit in the northern Andes in 2015, state investment promotion agency Proinversion said today in an e-mailed statement. Peru canceled Vancouver-based Inca Pacific’s concession in October, alleging the company failed to meet investment commitments.

Peru cancels Tia Maria copper mine project after protests: BBC

The Peruvian government has cancelled a billion-dollar copper mining project near Arequipa, Peru, after clashes between police and protesters left three dead last week, BBC News reported: The mining ministry said the environmental impact assessment […]

Buenaventura announces strike by contractor workers at the Uchucchacua mine

Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company announced today that Contractors at the Uchucchacua Mine commenced a strike related to […]

International Minerals updates reserve and resource estimates at Pallancata Silver Mine

International Minerals Corporation (TSX: IMZ) (SWISS: IMZ) reports updated mineral reserve and resource estimates for the Pallancata silver mine, Peru, jointly owned by IMZ (40% interest) and Hochschild Mining plc ("Hochschild", 60% interest) based on information supplied by Hochschild, the mine operator, as of December 31, 2010.

Peru natural resources clashes leave dead and injured in election runup

Natural resources have become a battleground in Peru's election campaign where the left wing nationalist frontrunner wants more state control over country's huge mineral wealth.

Peru influence compelling traders to rethink copper

News out of Peru gave traders a reason to pause and rethink on Monday and Tuesday as reports say leftist political candidate Ollanta Humala has taken the lead in the latest polling. Along with Peruvian […]

Southern Copper postpones $1bn Tia Maria project

Southern Copper, one of the world's largest producers of the metal, has postponed its $1 billion Tia Maria mining project in Peru because of social conflicts, Chief Executive Oscar Gonzalez said on Tuesday. The company (SCCO.N: Quote) will revise the project's viability later this month and consider alternative sites in Argentina and Ecuador in the meantime, Gonzalez told local television.

Next Generation Mining Latin America Summit: The rise, and rise, of illegal mining

Ever since 33 miners were rescued from a Chilean mine last year, the spotlight has been firmly trained on the Latin American mining industry. And with it, a crackdown on illegal mining operations.

Strait Gold Intersects 134 metres of 0.29% Copper at Alicia

Strait Gold Corporation (TSX-V:SRD), is pleased to report final assay results from a 2000-metre drill program at its Alicia copper-gold project in southern Peru. Highlights include: - 134.0 metres of 0.29% copper, 0.03 grams per tonne (g/t) gold in hole ALC11-16, including 9.75 metres of 1.27% copper, 0.07 g/t gold and 0.032% molybdenite; and, - 18.5 metres of 1.25% copper, 0.15g/t gold, 13.3 g/t silver and 0.012% molybdenite in ALC11-17. Image from Strait Gold Corporation

Gold Fields to buy out Peruvian unit

Gold Fields (GFIJ.J: Quote), the world's fourth-largest listed gold miner, said on Tuesday it had offered to buy out the remaining shares of its Peruvian unit to boost the group's total production of the precious metal.

Vena's Uranium Resource Expansion Program in Macusani Successfully Extends Higher Grade Uranium Zone to South and West

Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA®:V1R.DE), a Company with strong partnerships with some of the world's largest mining companies, is pleased to announce the initial results of the third major drill campaign on […]

Peruvian presidential front-runner to review windfall profits tax

Peruvian presidential front-runner Alejandro Toledo said on Wednesday if elected he would talk with extractive industries about possibly introducing a tax on windfall profits as commodities prices surge. Toledo, who in his first term from 2001 to 2006 helped lure billions in foreign investment to Peru, said voters need to see concrete benefits from mining, oil and gas activity.

AQM Copper Announces Filing of Ni 43-101 Compliant Technical Report on the Zafranal Project, Southern Peru

AQM Copper Inc. announces that it has filed an independent technical report with regulatory authorities, in support of the resource estimate announced on January 13th for the Zafranal Project, located in Arequipa, Southern Peru. AMEC […]

Gold and copper revenues see 6% Q4 profit hike for Peru's Buenaventura

Buenaventura's annual net income rises 12% from last year, but gold production including Yanacocha fell 17% in 2010.

Declining ore grades keep Yanacocha gold output down

Newmont/Buenaventura major Peruvian gold mine, Yanacocha, saw 2010 gold sales well below 2009 due to declining grades, but higher gold price compensates LIMA

Despite Mexico's silver output growth, Peru still #1 in silver mining:Mining Ministry

Peru's Ministry of Energy and Mines says Peru ranks third in global mining exploration investment, behind Canada and Australia.

Fronteer Gold acquired by Newmont Mining in a $2.3 billion deal

On Thursday, Fronteer Gold announced that all its outstanding shares will be acquired by Newmont Mining. Size of the deal is $2.3 billion. Fronteer Gold shareholders will receive CAN$14 in cash and one  common share […]

Tin constraints looming

The global tin market is generally driven by producers in Indonesia, China and Peru. The production of the silverly, malleable metal – used for things like steel-plating – has been in decline in these markets, in part because poor weather has challenged operating conditions and undermined transport.

Ancash Region is Peru’s top copper and zinc producer

Although government revenue from Ancash's mining sector declined in 2010, Peru's Mines Ministry says the region remains Peru's foremost copper and zinc producer. RENO, NV - The Andean Region of Ancash is Peru's biggest copper and zinc producer, as well

Sean Rakhimov: Silver Going Mainstream in 2011

Never mind the correction in the price of silver, says Silver Strategies Editor Sean Rakhimov; better things are ahead. "It may be volatile; it may be steep; but it should be short-lived," he says, adding that he expects silver to rise well above its 2010 high at some point in 2011. Some of that price support could come from governments entering the silver market. Find out all the reasons for this and read about some of Sean's favorite silver plays in this exclusive interview with The Gold Report.

Mining firms must stop neglecting the poor, says former Peru President Toledo

Alejandro Toledo says mining firms should give back more of their profits and respect the environment, in joint responsibility with the state. Comments come as social conflict weighs on sector. Former President Alejandro Toledo, a front-runner in Peru's

HudBay to pay C$397.5M for Norsemont

The cash and stock deal will provide the Canadian miner with access to a major copper deposit in Peru BANGALORE (Reuters) - Canada's HudBay Minerals Inc (HBM.TO: Quote) agreed to buy Norsemont Mining Inc (NOM.TO: Quote) to gain access to a major copper

MWH Office in Peru Relocates

Additional leadership and new office support growing business in Latin America.

Doppelmayr rope conveyor concept study looks promising for Apurimac iron ore

Apurimac Ferrum (AF) has commenced a concept-level study into the potential for a rope conveyor (by Doppelmayr) for the Apurimac project in Peru. Read more