South America

Expansion of Chile’s Sierra Gorda mine may cost up to $2bn

Cecilia Jamasmie | March 5, 2015
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Majority owner KGHM International also said it is sticking to its commitment to invest US$9 billion over the next five years.

Colombia to speed approval of permits, crack down on illegal miners

Cecilia Jamasmie | March 4, 2015
Colombia to speed approval of permits, vows ‘zero tolerance’ to illegal miners

The country wants investors back and has vowed to reduce the time it takes to process permits to less than two months.

Potash Corp buys stake in Brazilian firm

Cecilia Jamasmie | March 3, 2015
Potash Corp buys stake in Brazilian firm

The move is a bet to become the company's main supplier and expand PotashCorp's presence in Latin America.

Vale’s shares dive as miner posts quarterly loss triggered by iron ore weakness

Cecilia Jamasmie | February 26, 2015
Vale’s shares dive as miner posts quarterly loss triggered by iron ore weakness

The world’s No. 1 iron ore producer by volume posted a second consecutive quarterly loss.

Will a dry spell in Chile curb a global oversupply of copper?

Cecilia Jamasmie | February 25, 2015
Chile’s dry spell to weigh on global copper oversupply

A raging seven-year drought affecting copper-rich Chile is making miners grow anxious, with BHP and Anglo American already reporting an impact in their operations.

Chile’s Codelco likely to buy Anglo’s unwanted copper assets — report

Cecilia Jamasmie | February 22, 2015
Chile’s Codelco likely to buy Anglo’s unwanted copper assets — report

Anglo’s assets up for grabs include three mines and a smelter valued at $1 billion.

MMG to begin pre-extraction at Las Bambas despite copper rout

Cecilia Jamasmie | January 29, 2015
MMG to begin pre-extraction at Las Bambas despite copper rout

The firm expects production at Ferrobamba, one of the four deposits that make up Las Bambas project, to start early next year.

Anglo American set for commodity slump-triggered charge

Cecilia Jamasmie | January 28, 2015
Anglo American set for commodity slump-triggered charge

The firm became the first major mining company to openly accept the toll that slumping commodity prices are taking on the global industry.

Anglo American mulls sale of more coal mines in Australia

Cecilia Jamasmie | January 23, 2015
Anglo American mulls sale of more coal mines in Australia

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.

Peruvian rare earth discovery richer than initially thought

Cecilia Jamasmie | January 22, 2015
Peruvian rare earth discovery richer than initially thought

Geology consultants leading the project found the rare earth claim has the highest range of rare earth metals in Peru.

Colombian gold CEO involved in $970m laundering case arrested

Cecilia Jamasmie | January 22, 2015
Colombian gold CEO involved in $970m laundering case arrested

Prosecutors claim the gold company and its top executives are at the centre of a money-laundering scheme involving cocaine traffickers.

China’s alleged intentions to mine Antarctica spark global debate

Cecilia Jamasmie | January 21, 2015
China’s alleged intentions to mine Antarctica spark global debate

New evidence has emerged of China's interest in digging for oil, gas a minerals in the frozen continent.

Antofagasta buys Canada’s Duluth Metals, warns lower margins ahead as copper falls

Cecilia Jamasmie | January 19, 2015
Antofagasta buys Canada’s Duluth Metals, warns lower margins ahead as copper falls

With Duluht’s acquisition, Antofagasta takes control of the Twin Metals project, located in north-eastern Minnesota, which is set to become its first operation outside Chile.

Goldcorp strikes $440 million deal for Probe Mines

Cecilia Jamasmie | January 19, 2015
Goldcorp strikes $440 million deal for Probe Mines

The move will see the miner taking control of the Borden Gold project in northern Ontario.

Lust for gold eating up the world’s last rainforests: study

Cecilia Jamasmie | January 16, 2015
Lust for gold eating up the world’s last rainforests: study

Artisanal and illegal gold mining is fast extending its destructive reach into some of the world’s most untouched landscapes.

Chile mulls making water desalination mandatory for miners

Cecilia Jamasmie | January 9, 2015
Chile mulls making water desalination mandatory for miners

The measure would only be imposed to miners that consume more than 150 liters (40 gallons) of water per second.

Codelco pre-tax profits down despite output increase

Cecilia Jamasmie | January 5, 2015
Codelco pre-tax profits down despite output increase in 2014

Pre-tax profit for the year was a bit over US$3 billion, a decline of $760 million when compared to 2013.

Silver Wheaton extends Barrick’s deadline to fulfill Pascua Lama silver deal

Cecilia Jamasmie | January 5, 2015
Silver Wheaton extends Barrick’s deadline to fulfill Pascua Lama silver deal

In the meantime, the miner will receive silver produced at three other Barrick operations in South America.

Chile’s Supreme Court won't hear Barrick appeal on Pascua Lama fine

Cecilia Jamasmie | January 2, 2015
Chile’s Supreme Court won't hear Barrick appeal on Pascua Lama fine

The court refused to consider the appeal on procedural grounds. Chile's environmental regulator will now have to re-evaluate the administrative fines for over $16 million it imposed on the project.

Rare earths discovered in Peru

Cecilia Jamasmie | December 30, 2014
Rare earths discovered in Peru

The discovery — located approximately 95 km northwest of Cusco— contains both light rare earth elements (LREEs) and heavy rare earth elements and metals (HREEs).

Peru environmental agency gets tougher on miners

Cecilia Jamasmie | December 30, 2014
Peru environmental agency gets tougher on miners

The move aims to expedite the processing and sanction of pollution cases.

Former car dealer is Brazil’s new mining and energy minister

Cecilia Jamasmie | December 24, 2014
Former car dealer is Brazil’s new mining and energy minister

Eduardo Braga (54) takes over a ministry dealing with an alleged kickback and bribery scheme at state-run oil company Petrobras.

BHP, Rio, Anglo fear effects of Chile’s new labour bill

Cecilia Jamasmie | December 23, 2014
BHP, Rio, Anglo fear effects of Chile’s new labour bill

The new law could seek to limit mining companies' ability to replace workers during strikes.

UK data watchdog hands defeat to Steinmetz over request to quell Simandou mining deal critics

Cecilia Jamasmie | December 22, 2014
UK data watchdog hands defeat to Steinmetz over request to quell Simandou mining deal critics

Steinmetz and three BSGR directors argued that Global Witness had obtained personal information about them without authorization and wanted it to be forced to reveal what specific data it held.

Codelco El Teniente mine expansion to take longer, cost $2bn more

Cecilia Jamasmie | December 19, 2014
Codelco El Teniente mine expansion to take longer, cost $2bn more

The touted expansion of the world's largest underground copper mine is two to three years behind schedule and will require $2 billion more than initially planned, said the company.

Judge turns down Vale bid to dismiss Rio Tinto lawsuit in U.S.

Cecilia Jamasmie | December 18, 2014
Judge turns down Vale bid to dismiss Rio Tinto lawsuit in U.S.

The court said Vale had failed to convince him to dismiss the case in which it is accused of conspiring to steal Rio's rights for part of iron ore reserve potentially worth billions.

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