South America

Brazil’s iron ore giant MMX to sell off 300,00 tonnes of stockpile

Cecilia Jamasmie | August 21, 2014
Brazil’s iron ore giant MMX to sell off 300,00 tonnes of stockpile

The news comes only a day after MMX announced it was temporarily halting operations at its only producing mine.

Vale secures key licence for flagship iron ore mine expansion

Cecilia Jamasmie | August 21, 2014
Vale secures key licence for flagship iron ore mine expansion

The project is considered vital for Vale as the miner has been losing market share to Rio Tinto and BHP Biliton.

Executive changes at Antofagasta Minerals, chairman stepping back

Cecilia Jamasmie | August 21, 2014
Executive changes at Antofagasta Minerals, chairman stepping back

Jean-Paul Luksic, who was appointed in 2004, will now take a non-executive role with effect from Sep. 1st.

Aggressive cost-cutting boosts silver miner Hochschild core profit

Cecilia Jamasmie | August 20, 2014
Aggressive cost-cutting boosts silver miner Hochschild core profit

Increased output from its mines in Peru and Argentina also helped the company slash first-half interim loss.

Brazil’s iron ore giant MMX to file for bankruptcy

Cecilia Jamasmie | August 19, 2014
Brazil’s iron ore giant MMX to file for bankruptcy

Shares in the company fell by almost 8% on the news, hitting an all-time low.

Gold Fields sells majority stake in Peruvian project to Buenaventura

Cecilia Jamasmie | August 19, 2014
Gold Fields sells majority stake in Peruvian project to Buenaventura

The Peruvian firm will develop the deposit as an underground mine, instead of as an open-pit project.

Former Chilean president slams Codelco’s governance, calls for greater autonomy

Cecilia Jamasmie | August 14, 2014
Former Chilean president slams Codelco’s governance, calls for greater autonomy

He sees it as a key part of the firm's ambitious investment strategy, which in the next stage will plow $25 billion to overhaul older mines.

West Africa Ebola outbreak forces miners to lock down operations, delay projects

Cecilia Jamasmie | August 10, 2014
West Africa Ebola outbreak forces miners to lock down operations, delay projects

After the WHO declared the current outbreak an “international public health emergency.”

Vale to double iron ore shipments to China by 2019

Cecilia Jamasmie | August 8, 2014
Vale to double iron ore shipments to China by 2019

Currently Vale supplies 12% to 14% of China’s consumption of the steel-making ingredient.

Japan, Chile sign mining deals

Cecilia Jamasmie | August 7, 2014
Japan, Chile sign mining deals

Japan already allocates 90% of its investment in Chile to mining.

Chile's court rules in favour of KGHM’s Sierra Gorda storage facility

Cecilia Jamasmie | August 6, 2014
Chile's court rules in favour of KGHM’s Sierra Gorda storage facility

This is the third project in the past four moths to be given the go-ahead after an initial unfavourable ruling.

Peru gives Southern Copper’s $1.4bn Tia Maria copper mine final approval

Cecilia Jamasmie | August 6, 2014
Peru gives Southern Copper’s $1.4bn Tia Maria copper mine final approval

The mine is expected to produce 120,000 tons of copper a year during its 20 years of mine life.

Batista loses control of his iron ore darling MMX

Cecilia Jamasmie | August 5, 2014
Batista loses control of his iron ore darling MMX

The ex-billionaire will remain the largest shareholder of the firm he founded in 2005.

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.

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