South America

Weak iron ore prices cause Vale $1.44 billion loss in Q3

Cecilia Jamasmie | October 30, 2014
Weak iron ore prices cause Vale $1.44 billion loss in Q3

While the miner produced a record amount of iron ore, turmoil in currency and commodity markets overshadowed any production gains.

Goldcorp takes $36 million writedown on Mexican mine

Cecilia Jamasmie | October 30, 2014
Goldcorp takes $36 million writedown on Mexican mine

Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.

Vale’s CEO shortlisted to be Brazil’s new finance minister

Cecilia Jamasmie | October 29, 2014
Vale’s CEO shortlisted to be Brazil’s new finance minister

Analysts say only a business-friendly appointment followed by credible action to strengthen the fiscal accounts and control inflation would reassure markets.

Chile passes historic law to aid copper giant Codelco

Cecilia Jamasmie | October 29, 2014
Chile passes historic law to aid copper giant Codelco

It grants the world's No.1 copper miner an injection of US$4 billion for the next four years.

Oliver Gross says peak gold is here to stay

The Gold Report | October 27, 2014
Gold mines output to reach record high

Midtier producers will soon be desperate to buy low-cost, high-quality deposits.

Anglo American ships first iron ore from Brazilian Minas-Rio project

Cecilia Jamasmie | October 27, 2014
Anglo American ships first iron ore from Brazilian Minas-Rio project

Once again Cutifani delivers — freight from Minas-Rio leaves for China by year-end and within the latest estimated budget.

Brazil’s Vale close to becoming world’s largest nickel producer

Cecilia Jamasmie | October 24, 2014
Brazil’s Vale close to becoming world’s largest nickel producer

The miner beat estimates after logging a 16% jump in Q3 nickel production, taking total output of the metal this year to 201,400 metric tons.

Chile’s Codelco to seal $1 billion deal with the UK

Cecilia Jamasmie | October 21, 2014
Chile’s Codelco to seal $1 billion deal with UK

The giant copper miner is also planning to sell about $8 billion of bonds over the next five years to help finance a nearly $30bn investment program aimed to revamp its aging mines.

Travis McPherson - CEO.ca

The Lundin’s look to Chile for copper’s next run

Travis McPherson - CEO.ca | October 21, 2014
The Lundin’s look to Chile for copper’s next run

The firm is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces of gold resources (only two of the deposits have resource estimates on them).

Chilean authorities divided over Goldcorp's $3.9bn El Morro mine

Cecilia Jamasmie | October 17, 2014
Chilean authorities divided over Goldcorp's $3.9bn El Morro mine

The country’s environmental authority criticized the Top Court decision saying the miner conducted proper consultation with local indigenous groups and shouldn’t have to do it again.

Chile copper boom begins to fade as production headaches mount

Reuters | October 17, 2014
chile- flag2

The shine may soon come off Chile's decade-long copper boom as technical and regulatory problems in getting new mines into production highlight just how hard it will be to keep ratcheting up the supply.

Vale to ditch 20% of its nickel assets in Indonesia

Cecilia Jamasmie | October 17, 2014
Vale to ditch 20% of its nickel assets in Indonesia

The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.

Chile’s copper exports down 21% in August

Cecilia Jamasmie | October 16, 2014
Chile’s copper exports down 21% in August

The drop was mainly due to reduced shipments from Codelco and Collahuasi, official figures show.

Sponsor AkzoNobel showcases optimized flotation collectors

AkzoNobel | October 16, 2014

AkzoNobel will present a paper at IMPC 2014, in Chile, proving a new three-component anionic collector for phosphate ore flotation that meets all the requirements for flotation efficacy and sustainability.

Brazil’s iron ore giant MMX seeks bankruptcy protection

Cecilia Jamasmie | October 16, 2014
Brazil’s iron ore giant MMX seeks bankruptcy protection

Ex-billionaire Eike Batista’s main mining unit became the third of his companies to file for bankruptcy protection in a year.

Newmont’s Conga mine could remain halted until 2018

Cecilia Jamasmie | October 15, 2014
Newmont’s Conga mine could remain halted until 2018

The future of the proposed $5 billion Conga copper and gold project in Peru remains in limbo as its main opponent was recently re-elected governor of the region where the project is situated.

Australia, Brazil to control 90% of global iron ore trade by 2020

Cecilia Jamasmie | October 15, 2014
Australia, Brazil to control 90% of global iron ore trade by 2020

Despite iron ore prices touching rock bottom, the top three producers have no plans to slowdown production. Quite the contrary.

Iron ore war: Rio Tinto ‘not standing still’ over BHP’s production boost

Cecilia Jamasmie | October 9, 2014
Iron ore war: Rio Tinto ‘not standing still’ over BHP’s production boost

The head of the iron ore division, Andrew Harding, defens Rio's own plans to ramp up ore production.

Chile to loosen major miners’ grip on idle land

Bloomberg | October 8, 2014

Chile’s government will seek talks with large-scale mining companies to make more land available for smaller mineral explorers as it seeks to expand the copper industry, the world’s largest.

Chile’s top court orders Goldcorp to halt El Morro mine

Cecilia Jamasmie | October 7, 2014
Chile’s top court orders Goldcorp to halt El Morro mine

Once again the mining giant's $3.9 million project can't move forward until local indigenous groups who oppose it are better consulted.

Peru’s main opponent to Newmont’s Conga mine wins local elections

Cecilia Jamasmie | October 6, 2014
Peru’s main opponent to Newmont’s Conga mine wins local elections

Jailed Gregorio Santos is set to win the re-election in the country’s gold-rich Cajamarca region, casting fresh doubts on the future of the long-delayed copper and gold project.

Iron ore war: BHP to be cheapest supplier, Glencore says it’ll hurt Africa

Cecilia Jamasmie | October 6, 2014
Iron ore war: BHP to be cheapest supplier, Glencore says it’ll hurt Africa

While BHP gets ready to further expand iron ore output, Glencore's Glasenberg warns the move will make investing in African iron ore a less appealing prospect.

Cecilia Jamasmie

Gold prices hurting miners? Throw Ebola into the mix

Cecilia Jamasmie | October 3, 2014
Gold prices hurting miners? Throw Ebola into the mix

Deutsche Bank warned Friday that gold producers are the most vulnerable to a further spread of the deadly disease.

Polish miner KGHM begins production at massive copper mine in Chile

Cecilia Jamasmie | October 1, 2014
Polish miner KGHM begins production at massive cooper mine in Chile

In the official opening the firm said it expected to start shipping from Sierra Gorda in November

Anglo American to start mining at massive iron ore project in Brazil

Cecilia Jamasmie | October 1, 2014
Anglo American to start mining at massive iron ore project in Brazil

The company was granted final permits for its long-delayed and three times more expensive than originally expected Minas Rio iron ore project.

Miners ordered to hand back land to natives in Colombia

Cecilia Jamasmie | September 26, 2014
Miners ordered to hand back land to natives in Colombia

The ruling, which affects 11 gold mining companies, is the first of its kind in the South American nation.

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