President Mauricio Macri has revoked a 5% tax imposed by the previous administration on mining companies.
South America Mining News
Mining in the area of the Andes mountains right above the continuous tree line had been prohibited since 2011, but concessions granted before such ban had continued to date.
Firms says the affected pipe only carries ground ore mixed with water.
The copper mine, property of Japan's top smelter JX Nippon Mining & Metals, will have to pay $10.8 million for breaching environmental rules.
FTSE 100 reweighting to take place in March.
The company is said to be wanting to offload its Barro Alto nickel mine and the vast Minas-Rio iron ore complex.
The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.
The miner expects an output of 710,000-740,000 tonnes for 2016 as it ramps up production at its Antucoya and Centinela Concentrates mines, as well as from its share in Zaldivar mine, which co-owns with Barrick Gold.
Inception CFO and Director Trent D'Ambrosio shares with The Gold Report his company's plans to boost production and expand mine life at Clavo Rico.
The company has now at least 60 days to come up with a plan to address and fix pollution problems tied to its operations Tubarão, one of Vale's most important ports.
From 2005 to 2015 Chile's copper output rose a mere 8%, while Peru’s grew 37%, China’s 114%, Zambia’s 72% and Congo’s 956%.
The suspension of activities at Vale's Port of Tubarão, ordered by a Brazilian federal court on Thursday, is likely to cause strong reaction in the global iron ore market.
The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.
CEO Ricardo Vescovi and operations chief Kleber Terra were among those accused of environmental crimes by Brazil’s Federal Police earlier this month.
Despite recent market volatility and exposure to low oil and commodity prices, the countries growth won't be affected, says the bank.
The company shipped roughly 10,000 tonnes of copper concentrate from Las Bambas from the Port of Matarani to China on Jan. 15.
Chile's Invierno coal mine is, by far, the southernmost mine on the planet.
Recently released satellite images show that devastation from illegal gold mining activities in Peru is now reaching the Tambopata National Reserve, an important protected area in the country’s southern Amazon.
The Canadian miner's Buriticá gold-silver-zinc project is located about 75 km from Medellín, the country’s second largest city.
Lundin will pay Ecuador an advance royalty of $65 million. In exchange, the miner won’t be charged a windfall tax until it recovers its development investment.
Codelco chairman, Oscar Landerretche, wants the government to scrap the country’s Copper Law, which forces the firm to give 10% of its annual export revenue to the Armed Forces.
The miner has finally completed the sale of assets from its Tarmac joint venture to a subsidiary of French engineering and construction group Bouygues.
Official figures contradict recent local reports showing that most copper miners in the country are barely breaking even at current metal prices.
The company's co-founder James Moffett will step down as chairman and quit the board.
China is currently the top investor in the country's sector, pumping $19.2 billion into several copper, gold and silver projects.