South America

Codelco’s new CEO to lead the copper miner’s $25 billion revamp

Cecilia Jamasmie | August 1, 2014
Codelco’s new CEO to lead the copper miner’s $25bn revamp

Nelson Pizarro (73) will carry out the biggest investment plan in Codelco’s history.

Iron ore price bulls are back

Frik Els | August 1, 2014
Iron ore price bulls are back

But prediction of a rise above $100 a tonne in the "near future" may not be enough for smaller producers as the big three flood markets.

Glencore, ArcelorMittal seeking stake in Simandou: report

Cecilia Jamasmie | July 31, 2014
Glencore, ArcelorMittal said to seek a stake in Simandou

They would be going for the northern portion of the massive iron ore deposit, seized from Israeli billionaire Beny Steinmetz and mining giant Vale in April.

BHP firing 6% of workforce in Chile’s Pampa Norte division

Cecilia Jamasmie | July 30, 2014
BHP firing 6% of workforce in Chile’s Pampa Norte division

Division encompasses the Spence and Cerro Colorado copper mines.

Goldcorp pours first gold at Argentina’s Cerro Negro mine

Cecilia Jamasmie | July 28, 2014
Goldcorp pours first gold at Argentina’s Cerro Negro mine

The miner poured the initial dole bar at a weight of 100 kilograms containing an estimated 317 ounces of gold.

Beny Steinmetz associate jailed over Guinea’s Simandou case

Cecilia Jamasmie | July 28, 2014
Beny Steinmetz associate jailed over Guinea’s Simandou case

Frederic Cilins, a French businessman who worked as an intermediary for BSGR in Guinea, became the first person to receive a criminal sentence in a corruption investigation.

Mass grave with hundreds of skeletons found in Bolivian mining town

Cecilia Jamasmie | July 27, 2014
Mass grave with hundreds of skeletons found in Bolivian mining town

Hundreds of thousands have died over the years at the city's main silver mine, as a direct result of cave-ins, overwork, hunger and disease.

Codelco delays $6.8 billion mine expansion, reviews impacts on glaciers

Cecilia Jamasmie | July 25, 2014
Codelco delays $6.8 million mine expansion, reviews impacts on glaciers

The company says its future depends on the Andina mine expansion, as dwindling ore grades in its old mines are expected to bring annual output down.

Chile’s Escondida mine boosts BHP copper output

Cecilia Jamasmie | July 24, 2014
Chile’s Escondida mine boosts BHP copper output

Improvements at the mine mill throughput and concentrator utilization offset declining ore grades at the world's largest copper mine.

China's MMG board grants undivided approval for $5.85bn Las Bambas buy

Cecilia Jamasmie | July 21, 2014
China's MMG board grants undivided approval for $5.85bn Las Bambas buy

Las Bambas will be one of the world’s largest copper mines after it starts up in 2015, with annual output equivalent to more than twice the amount of copper MMG currently produces.

Vale sees iron ore prices coming back to historical levels

Cecilia Jamasmie | July 17, 2014
Vale sees iron ore prices coming back to historical levels

CEO Murilo Ferreira thinks the ore may get close to 2011’s peak of $168 a ton.

Barrick Gold ousts CEO Sokalsky in major shakeup

Cecilia Jamasmie | July 16, 2014
Barrick Gold ousts CEO Sokalsky in major shakeup

The Toronto-based firm has shown president and CEO Jamie Sokalsky the door two years into the job, and less than three months after a breakdown in merger talks with its largest rival.

Grupo Mexico considers mining for rare earths

Cecilia Jamasmie | July 15, 2014
Grupo Mexico considers mining for rare earths

The news come only weeks after the government announced it would begin funding explorations projects to locate deposits of the coveted elements.

Barrick Gold gets partner to mine for copper in Saudi Arabia

Cecilia Jamasmie | July 13, 2014
Barrick Gold gets partner to mine for copper in Saudi Arabia

The miner has agreed to form a joint venture with Saudi Arabian Mining Co (Ma'aden) to run its Jabal Sayid asset.

Lundin Mining acquires Freeport-McMoRan copper mine in Chile — report

Cecilia Jamasmie | July 11, 2014
Lundin Mining acquires Freeport-McMoRan copper mine in Chile — report

The transaction would be worth over $2 billion.

Peru set to become world’s second largest copper producer in 2016

Cecilia Jamasmie | July 11, 2014
Peru set to become world’s second largest copper producer in 2016

Currently China is the second largest producer of the red metal, with an annual output of about 1.6 million tonnes per year.

Job cuts coming to Antofagasta’s freshly combined copper operations

Cecilia Jamasmie | July 8, 2014
Job cuts coming to Antofagasta’s freshly combined copper operations

The copper miner controlled by Chile’s billionaire Luksic family, will cut jobs and costs through its new company Minera Centinela.

Chile’s Codelco to produce over 300 tons of silver this year

Cecilia Jamasmie | July 8, 2014
Chile’s Codelco to produce over 300 tons of silver this year

The company, already the world’s largest copper miner, wants to become one of the top silver producers too.

Chile's Supreme Court begins hearings on Barrick Gold’s appeal to $16m fine

Cecilia Jamasmie | July 8, 2014
Chile's Supreme Court begins hearings on Barrick Gold’s appeal to $16m fine

The appeal follows a confusing ruling in March this year that revoked the penalty, the largest ever imposed in the country, only to force the country's environmental watchdog to rewrite it.

Freeport-McMoran mulls selling one of largest copper mines in Chile

Cecilia Jamasmie | July 3, 2014
Freeport-McMoran mulls sale of one of largest copper mines in Chile

Sale of Candelaria mine could raise several billion dollars, according to people familiar with the matter quoted by WSJ.com.

Barrick Gold ready to offload Montana-based Golden Sunlight Mine

Cecilia Jamasmie | July 3, 2014
Barrick Gold ready to offload Montana-based Sunlight Mine

The move is part of a now two-year-long move to shed non-core assets and pay back debts.

Venezuelan army said to have trespassed Guyanese border, attacked miners

Cecilia Jamasmie | June 30, 2014
Venezuelan army said to have trespassed Guyanese border, attacked miners

Miner allegedly failed to pay the soldiers a periodical fee in exchange for them turning a blind eye to illegal mining on Venezuelan territory.

Anglo American goes ahead and puts platinum mines, other assets up for sale

Cecilia Jamasmie | June 30, 2014
Anglo American goes ahead and puts platinum mines, other assets up for sale

The firm is offloading some of its historic South African platinum mines as part of a $4bn sale of under-performing assets.

Mining costs in Chile 350% higher than a decade ago: report

Cecilia Jamasmie | June 27, 2014
Mining costs in Chile 350 times higher than a decade ago: report

The country is also struggling with rising energy cost, which threatens the competitiveness of its copper industry and poses a major challenge for new developments.

Main opponent of Newmont's gold project in Peru in prison

Cecilia Jamasmie | June 26, 2014
Main opponent of Newmont's gold project in Peru in prison

Cajamarca region governor Gregorio Santos was ordered to jail for 14 months amid a corruption probe. Supporters claim he is being target of political repression for opposing Newmont's mine.

Colombia’s coal output recovering fast — up 33.8% in Jan-March

Cecilia Jamasmie | June 23, 2014
Work resumes at New Zealand Escarpment coal mine

Total coal exports, however, fell 13.1% in the quarter, from 17.4 million tons in the first quarter of 2013 to 15.1 million tonnes in the same period this year.

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