The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.
The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.
Authorities say the $2.5 billion illicit mining industry is creating a parallel economy that is deemed to damage the business of those who operate legally.
The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.
Mick Carew, a research analyst with Haywood Securities, hopes we have found the bottom of the commodity cycle but expects M&A activity to continue apace through the rest of this year and into 2016.
New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.
Cerro Grande said the events had adversely impacted operations at its Pimenton mine in Chile, and will have a negative impact on its fourth fiscal quarter, ending Sept. 30, 2015.
Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.
With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump.
Codelco, the world's No.1 copper producer, confirmed it will start legal actions against protesters this week.
According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.
It's no secret that economic turmoil and extreme uncertainty in Greece pose major threats to the global economy.
The action has triggered severe criticism, with many are accusing authorities of an excessive use of public force.
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
A group of demonstrators, however, continued to block some access roads on Thursday morning, attempting to seize a bus that was heading to the nearby Gabriela Mistral mine.
This is the second time this year that the London-listed miner slashes its annual copper production guidance.
Things took a turn for the worse Friday, when a worker was shot dead by police near the company's smaller Salvador mine in northern Chile.
“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”
The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.
The Vancouver-based miner profit fell 21% in the quarter, making it adjust its 2015 coal production forecast to 25-26 million tonnes from 26.5-27.5 million tonnes.
According to the Chilean Copper Commission (Cochilco) it would happen due to lack of appropriate technology.
Today’s data visualization is the most simple breakdown of the world economy that we’ve seen.
This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.
It would be the first time since 2009 that Anglo has to cut dividends.
Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.
Though very few talk about it, Codelco is still suffering the consequences of a deal it signed with China's Minmetals back in 2006.
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