South America

Chile strikes BHP Billiton copper project off development timeline

Copper sector needs nine Escondida mines over next decade to meet global demand: Rio Tinto

The Chilean government has removed BHP Billiton's US$4 billion Spence copper expansion project from its 10-year development timeline, saying it expects the world's largest miner will miss its targeted deadline of first production by 2020.

Cecilia Jamasmie

Struggling Argentina expects US$14 billion in mining exports

Cecilia Jamasmie | May 21, 2015
Struggling Argentina expects US$14 billion in mining exports

The return to higher exports would be driven in part by at least 16 major projects likely to go into production within five years.

A mining investor’s guide to toll milling in Peru

CEO.CA | May 21, 2015
peru 400

Mining engineer Jamie Keech travels to Peru to learn about the toll milling business model that a lot of juniors are embracing.

Chile calls for better mining industry recognition of enviro-social concerns to avoid project stranding

Field Public Relations | May 21, 2015
Barrick's Pascua Lama workers drop strike

Chile, the world’s biggest copper producing country, has warned that the global resources sector needs to pay far more attention to its environmental and social licence obligations if new projects worth billions of dollars are to get up.

Mitsui mulls expanding into food, drugs sectors to offset profit drop

Cecilia Jamasmie | May 20, 2015
Mitsui mulls expanding into food, drugs sector to offset profit drop

The firm created a new division in April to evaluate deals in those areas, and in the past six months has made mining infrastructure-related investments in the U.S. and Africa.

Peruvian discovery may hold ‘hidden pool’ of rare earths

Cecilia Jamasmie | May 19, 2015
Peruvian discovery may hold ‘hidden pool’ of rare earths

Capacscaya also has significant amounts of copper, zinc, cobalt, aluminum and iron ore.

Cecilia Jamasmie

Copper, nickel prices likely to be hit by El Niño event

Cecilia Jamasmie | May 13, 2015
Copper, nickel prices likely to be hit by El Niño event

The recurring phenomenon — a warming of the Pacific Ocean as part of a complex cycle linking atmosphere and ocean — has in the past affected mine output, triggering price spikes.

Giving up on iron ore best option for Anglo American — Investec

Cecilia Jamasmie | May 13, 2015
Giving up on iron ore best option for Anglo American — Investec

The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.

Glencore under fire on Colombia coal mines

The commodity and mining firm is battling activists who allege its Colombian coal mines have whisked profits out of the country, while causing environmental and labor issues.

Major blow to illegal mining in Colombia’s Amazon: 59 arrested

Cecilia Jamasmie | May 12, 2015
Major blow to illegal mining in Colombia’s Amazon: 59 arrested

The country's armed forces raided 63 illegal mines operated by leftist guerrillas, blowing up machinery and arresting dozens.

BSGR ordered to hand over Simandou-related documents to UK anti-corruption body

Cecilia Jamasmie | May 8, 2015
BSGR ordered to handle Simandou-related documents to UK anti-corruption body

The UK High Court ruling is the latest setback BSG Resources, which is fighting on multiple legal fronts over the alleged corruption case.

Peru silver production up almost 9% this year

Cecilia Jamasmie | May 6, 2015
Peru silver production up almost 9% this year

Last year, the nation’s silver output reached about 3.3 million tonnes, making it the second biggest producer of the precious metal after Mexico.

Anglo fined $6.2m for environmental breaches at Los Bronces mine in Chile

Cecilia Jamasmie | May 5, 2015
Anglo fined $3.8bn for environmental breaches at Los Bronces mine in Chile

The environmental watchdog said the fine was calculated based on at least five infractions detected at the operation and the mine's facilities.

Goldman Sachs mulls selling Colombia’s coal mines

Cecilia Jamasmie | May 4, 2015
Goldman Sachs mulls selling Colombia’s coal mines

The sale would put an end to Goldman’s rocky involvement in raw-materials production.

Workers end two-week long strike at BHP’s nickel mine in Colombia

Cecilia Jamasmie | May 4, 2015
Workers end two-week long strike at BHP’s nickel mine in Colombia

It's estimated that the labour action generated about US$26 million in losses, forcing BHP to declare force majeure last week.

Former BlackRock mining fund manager joins Barrick Gold

Cecilia Jamasmie | May 1, 2015
Former BlackRock mining fund manager joins Barrick Gold

Catherine Raw, from one of the UK mining sector's best known fund managers, is assuming as the company's Business Performance Executive Vice President.

Cecilia Jamasmie

Here is why Venezuela traded 1.4 million ounces of its gold reserves to Citi

Cecilia Jamasmie | April 30, 2015
Here is why Venezuela traded 1.4 million ounces of its gold reserves to Citi

The nation signed a complex deal with Citibank to swap $1 billion in cash for about 1.4 million ounces of its gold reserves.

Vale falls victim of the iron ore slump, posts $3.2bn loss

Cecilia Jamasmie | April 30, 2015
Vale falls victim of the iron ore slump, posts $3.2bn loss

Today's results are the lowest earnings Vale has reported in six years and its third straight quarterly loss.

Goldcorp posts loss on lower margins, higher tax

Cecilia Jamasmie | April 30, 2015
Goldcorp posts loss on lower margins, higher tax

The company's stock is being ripped apart on both, the New York and the Toronto Stock Exchanges as a result.

Antofagasta cuts copper output forecast over rain, protests in Chile

Cecilia Jamasmie | April 29, 2015
Antofagasta cuts copper output forecast over rain, protests in Chile

Torrential rain in Chile's desert region and environmental protests dented first-quarter output, forcing the miner cut its annual production forecast.

Majority of Barrick’s shareholders rejects compensation plan

Cecilia Jamasmie | April 28, 2015
Majority of Barrick’s shareholders rejects compensation plan

As much as three quarters of investors voted in favour of a non-binding motion to change the way the gold giant compensates its executives.

Codelco to send robots inspect equipment at Gabriela Mistral mine

Cecilia Jamasmie | April 28, 2015
Codelco to send robots inspect equipment at Gabriela Mistral mine

The company, dealing with aging mines, has been leaning on a wide range of new technologies to reduce operating costs and increase efficiencies.

Barrick begins sale of stake in Chile’s Zaldivar copper mine

Cecilia Jamasmie | April 28, 2015
Barrick begins sale of stake in Chile’s Zaldivar copper mine

Chinese companies, private equity firms including Mick Davis’s X2 Resources, and even Teck Resources are rumoured to be among the potential buyers.

Barrick faces fresh opposition to executive pay plan

Cecilia Jamasmie | April 24, 2015
Barrick facing fresh opposition to executive pay plan

The Canada Pension Plan Investment Board will vote against the gold miner’s executive compensation structure next week.

Antofagasta's Los Pelambres mine is safe — Chile’s court

Cecilia Jamasmie | April 24, 2015
Antofagasta's Los Pelambres mine is safe — Chile’s court

La Serena appeals court unanimously rejected a lawsuit presented by locals, which claimed the massive tailing dam had dried up a nearby stream and contaminated underground water.

One killed at protests against Tia Maria copper project in Peru

Cecilia Jamasmie | April 23, 2015
One killed at protests against Tia Maria copper project in Peru

Farmers, anti-mining activists and local leaders have opposed the project for years, claiming it will pollute key waterways for Arequipa, where the mine will be built.

More »