South America Mining News and Commentary

Company growth feeds human growth: junior secures key phosphate deposit in Brazil

Prospecting Journal | February 22, 2012

Brazil, now the envy of debt-ridden nations, is scrambling to strengthen its control over domestic food production. This move became a matter of national security as the country saw 2008’s increased fertilizer prices threaten its agricultural sector.

Yamana Increases Mineral Reserves by 11%

Marketwire - Mining and Metals | February 22, 2012

YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) (“Yamana” or “The Company”) today announced its mineral reserves and resources for the year ended December 31, 2011. The Company’s total gold equivalent ounces(1)(GEO) in the proven and probable mineral reserves category increased by 2.0 million ounces to 18.6 million ounces, which represents an 11% increase over the previous year. Total measured and indicated resources were replaced and inferred GEO mineral resources increased by 39% to over 10 million ounces. The increases are net of 2011 depletion due to production of 1.1 million GEO.
Yamana Gold Increases Dividend by 10%

Marketwire - Mining and Metals | February 22, 2012

YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) today announced that the Board of Directors approved a further 10% increase in the Company’s annual dividend to $0.22 per share and declared the first quarter dividend of $0.055 per share. This represents an 83% increase over the last 12 months. The quarterly dividend declared is payable to shareholders of record at the close of business on March 30, 2012, and will be paid on April 13, 2012. The dividend is an “eligible dividend” for Canadian tax purposes.
Legislators present bill to ban gold mining in the Amazon

Business News Americas | February 20, 2012

Peruvian legislators have presented a bill to congress to restrict gold mining in the Amazon basin.
Focus finds bonanza silver grades at its Peru Minas Chanca Project

Cecilia Jamasmie | February 20, 2012

Focus Ventures Ltd. (CVE:FCV) announced this morning high- to bonanza-grade silver intercepts from its Minas Chanca project in Peru.
Chile the largest copper producer and the country with the biggest reserves — USGS

Cecilia Jamasmie | February 20, 2012

Chile is not only the largest copper producer in the world, but also the country with the largest worldwide reserves of the red metal, reveals the latest commodity report by the U.S. Geological Survey (USGS).
Chile Collahuasi mine resumes operations after snowstorm halt

Cecilia Jamasmie | February 20, 2012

Collahuasi, the third largest copper mine in the world, resumed operations this morning after a snowstorm halted production on Sunday, publishes online news outlet Terra.cl
Avanco Resources to double copper gold resource through acquisition from Xstrata

Cecilia Jamasmie | February 20, 2012

Brazilian copper developer Avanco Resources (ASX:AVB) said today that it would double the company’s copper gold resources through the acquisition of the Pedra Branca Copper-Gold Project in Brazil’s Carajas Mineral Province from Xstrata Copper.
Two of the 33 Chilean miners trapped in 2010 back to work

Cecilia Jamasmie | February 19, 2012

Two of the 33 Chilean miners trapped during 69 days underground in 2010 are back in the mining world, after over a year of vain efforts to find a job, reports local online news site SoyCopiapo.cl.
Thousands of Peruvians walk 870k to protest mine

Andrew Topf | February 18, 2012

Peruvians in the northern region of Cajamarca are not giving up easily in their fight over Newmont Mining’s proposed Conga copper-gold mine.
Ecuador, Kinross hit impasse over Fruta del Norte

Andrew Topf | February 17, 2012

Talks between the Ecuadorian government and Kinross Gold have stalled over the country’s largest mine, Fruta del Norte.
Mitsubishi to buy 18 pct stake in Peruvian copper mine

Nikkei Net Interactive | February 16, 2012

Mitsubishi Corp. (8058) will pay an estimated 60-70 billion yen to acquire an 18.1% interest in a Peruvian copper mine that is expected to begin production around 2016, The Nikkei learned Thursday.
Condor Resources Inc.: San Martin Drilling Intersects 12.1m of 63.9 g/t Ag and 6.15m of 0.54 g/t Au in Second Drill Hole

Marketwire - Mining and Metals | February 16, 2012

Condor Resources Inc. (“Condor” or the “Company”) (TSX VENTURE:CN) is pleased to announce that results of the second and third diamond drill hole at the Company’s wholly-owned San Martin project in southern Peru have been received. Hole SMA-002 was located approximately 80m north of SMA-001 (see news release dated January 18, 2012), and as was the case with SMA-001, targeted the depth continuity of encouraging silver assays encountered in surface chip-channel samples.
Vale profits fall 21% after bending to Chinese steelmakers

MINING.com News | February 16, 2012

Vale is the world’s largest producer of iron ore and a top nickel miner, reported a quarterly net profit of $4.67 billion, compared to $5.9 billion in the same quarter last year.
Goldcorp achieves record revenues and cash flow; gold reserves increase for eighth consecutive year

CNW Telbec | Mining/Metals | February 15, 2012

Goldcorp reported fourth quarter gold production of 687,900 ounces at a total cash cost of $261 per ounce, leading to record revenues of $1.5 billion and operating cash flows before working capital changes of $831 million.
Colombia to attract $2.1 billion in gold-related investments by 2015

Cecilia Jamasmie | February 15, 2012

Gold mining in Colombia is shining bright as major gold players are expected to invest U.S. $ 2,100 million by 2015, reports local newspaper La Republica.

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