South America Mining News

Teck Resources goes from dud to darling as coal makes a comeback

The company's shares have almost tripled this year, making it the best-performing global miner amid the rebound in commodity prices and a projected fivefold improvement in earnings.

Vale back in the black on higher iron ore prices, currency

Vale’s results for the first three months of 2016 makes it the best-performing major iron-ore miner so far this year.

Barrick ‘is back’ chairman Thornton tells shareholders

Barrick Gold has reduced its debt load, reshuffle management and sold several assets.

Vale gives its potash project in Argentina a second chance

The miner has scaled down the project and it now aim to produce 1.3 million tons of potash a year, down from the 4 million tons originally planned.

Teck Resources posts better-than-expected profit as costs drop

Canada’s largest diversified miner logged a 38% increased in overall profit for the first quarter of the year.

Barrick Gold swings to quarterly loss, but trims debt further

The world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales impacted production and realized gold prices fell.

Barrick’s fourth CFO in five years may be what shareholders were waiting for

Most shareholders hope that Catherine Raw persuades management to stop prizing output over profitability and, instead, place more emphasis on investors’ returns.

Anglo shareholders revolt against Cutifani’s $4.9 million pay

Full voting results will be released on Friday.

Newmont Mining investigating bribery allegations

The gold and copper miner didn’t specified where the alleged misconduct took place.

Several Canadian firms operating in Guatemala, Eritrea may have civil claims against them heard in Canada

Should the court decide the claim can be heard in Canada, it could have wider implications for Canadian mining companies operating in countries with less than sterling environmental and human rights records.

Looming zinc supply shortage good news for producers and explorers: Stefan Ioannou

The outlook for zinc appears bullish, says Stefan Ioannou of Haywood Securities, spearheaded by mine closures, dwindling production and the dearth of replacement projects.

World's largest underground copper mine remains shut on heavy rains, mudslides

Chile's Codelco said that it loses about 1,500 tonnes of copper output for each day El Teniente mine remains inactive.

Community opposition forces Newmont to abandon Conga project in Peru

The company has removed its massive gold and copper project Peru from its list of reserves in its annual filing with the U.S. Securities and Exchange Commission (SEC).

Canada-Chile lithium project in Argentina to begin operations in 2019

The Cauchari-Olaroz project, in northern Argentina, is forecast to initially produce 40,000 tonnes of lithium carbonate equivalent a year.

Codelco scraps plans for new mine at El Salvador division

Decision would reduce the total investment needed to $600 million from the whooping $3 billion it was originally estimated.

Workers at Freeport’s copper mine in Peru to down tools

About $22 billion worth of projects have been cancelled or delayed in Peru in recent years due mainly to anti-mining protests.

BHP more than triples Brazilian staff in light of Samarco disaster

It has also opened offices in Belo Horizonte, which is more than 100 km (70 miles) from its Samarco interests.

Breakthrough aircraft to transform remote mining

Lockheed lands $480m customer for aircraft combining power of helicopter, airplane and hovercraft dramatically altering mining and exploration economics.

Barrick Gold chairman John Thornton takes a 76% pay cut

He will receive $3.4 million for his work in 2015, including compensations and pension, a significant reduction from the almost $13 million he pocketed in 2014.

World’s No.1 copper miner Codelco posts historic loss of $1.4bn in 2015

For every penny copper prices drop, Codelco loses $36 million and Chile, the world's largest producing country, $50 million.

US judge rules Barrick Gold must face group lawsuit over Pascua-Lama mine

Class action claims that Barrick repeatedly and knowingly misled shareholders about whether Pascua-Lama complied with environmental regulations.

Mitsui posts first loss ever amid $2.3bn copper, gas write-downs

About $1 billion of the total write-down was due to copper projects in Chile and revisions to the long-term price outlook.

The richest and poorest countries in the world

The world economy is complex, but today’s series of maps will allow you to simplify your understanding of the relative wealth of people around the globe.

BHP, Vale to reopen Samarco mine later this year

They have already taken the first steps towards resuming activity, applying for permission to use old mining pits to store tailings.

Chile helping miners to stay afloat, but threat of labour reform, lower copper prices loom

The government has set aside some $20 million through June to assist small and medium miners