South America Mining News

Colombia to penalize illegal gold mining with up to 12 years in prison

The Colombian Congress is discussing a bill that introduces the term “ecocide” to classify the effects of illegal mining and that would set harsh penalties for those who commit such crimes.

Bolivia sets high hopes on its lithium industry

The country began shipping lithium to China this week, in what is considered the first step towards fulfilling its ambitions to becoming the world’s No. 1 exporter of the commodity.

Here’s why silver is crushing gold — Pan American Silver CEO

Silver is up 40% to date, while gold has only gained about 28%.

Glencore tries to enforce its rights in Bolivia

Bolivia seized three of Glencore’s operations in nine years and the Swiss giant is now initiating arbitration proceedings against the South American nation.

Chile’s Codelco may slash copper output as it further cuts costs to the bone

The world's top copper miner admits to be facing its “worst crisis ever” since created in 1976.

Silver Wheaton bulks up on Brazilian gold

Silver Wheaton stock gets a boost from $800 million Vale goldstream buy.

Anglo American declines merger offer from Vedanta

Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.

Teck delivers surprise profit, stock surges

Systematic cost cutting has taken some strain off Teck's balance sheet over the last few years as metal prices have slumped.

Anglo American narrows debt despite posting steep first-half loss

The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.

Peru losing its battle against illegal gold mining

A force of marines and rangers sent in the past days to raid the Tambopata reserve, in the country’s southern Amazon, has already been outnumbered.

Antofagasta lowers full-year copper output target, says surplus shows little sign of easing

The Chilean copper miner said full-year production would be at the lower end of the 710,000 to 740,000 tonnes it predicted in January.

Vale iron ore output falls in second quarter but still beats estimates

It produced 86.82 million tonnes of iron ore in the April-to-June period, down 2.8% from a year earlier.

Heavy snowfall in Chile forces Anglo to cut annual copper target

Shares plunged after miner revealed that output fell almost across the board in the April – June period.

Chinese eye Atlantic Canada’s lithium project

Lithium prices have soared in the past year, and demand is set to outstrip supply by 2023.

BHP unlikely to reopen Samarco this year amid Brazil’s criminal probe

The firm said about 40% of its Brazilian workforce would take voluntary redundancy to reflect reduced production.

Chinese Gov’t official appointment to Teck Resources board raises questions

Watchdog worried about sovereignty issues in the country’s resource sector.

BHP greenlights expansion at Escondida copper mine in Chile

With the expansion, Escondida is targeting an average output of 1.2 million tonnes a year over the next decade, up from about 940,000 tonnes it produced last year.

Barrick appoints Daniel Oh as senior vice president, investor engagement and governance

Reporting to Executive Vice President and Chief Financial Officer Catherine Raw, Mr. Oh will lead Barrick's Investor Relations team, and will serve as a central point of contact for investor engagement on governance.

World's largest copper mine output, profit plummeted in Q1

Chile’s Escondida produced 265,597 tonnes in the period, or 23% less than the 347.125 tonnes it generated in Q1 2015.

Latin America the world’s most dangerous place for environmental activists

More environmentalists were murdered in Latin America in 2015 than anywhere else in the world, with anti-mining causes claiming the most lives, a report by Global Witness shows.

BHP hikes exploration spending, to focus mostly on copper, oil

It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.

Lundin Gold getting closer to developing Fruta del Norte in Ecuador

With construction expected to start in 2018, the US$669-million Fruta del Norte project could finally begin production before the end of the decade.

Police investigation finds BHP-Vale Brazilian venture at fault for dam collapse

Eight executives will also face charges, although the police did not disclose their names.

Gold firms gear up for growth as cost of mining the metal falls

Early signs of activity include Kinross Gold's March decision to expand its Mauritanian gold mine and Goldcorp acquisition of junior Kaminak for $520 million in May.

Goldcorp and Teck plow ahead with new $3.5bn mine in Chile

The project, renamed NuevaUnion, would be one of the largest copper-gold-molybdenum mines ever-developed in Latin America.