South America

Freeport-McMoRan cuts spending, production and jobs: shares soar

Cecilia Jamasmie | August 27, 2015
Freeport-McMoRan cuts spending, production and jobs: shares soar

The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.

Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile

Cecilia Jamasmie | August 27, 2015
Goldcorp, Teck combine projects, create new $3.5 billion mine in Chile

The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.

About 80% of Colombia’s gold output comes from illegal miners — Gov't

Cecilia Jamasmie | August 27, 2015
About 80% of Colombia’s gold output comes from illegal miners — Gov't

Authorities say the $2.5 billion illicit mining industry is creating a parallel economy that is deemed to damage the business of those who operate legally.

Anglo American sells copper mines in Chile to UK investment firm

Cecilia Jamasmie | August 24, 2015
Anglo American sells copper mines in Chile to UK investment firm

The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.

Haywood's Mick Carew explains why now is an 'opportune time for consolidation' in the mining space

The Gold Report | August 24, 2015
Handshake agreement mining

Mick Carew, a research analyst with Haywood Securities, hopes we have found the bottom of the commodity cycle but expects M&A activity to continue apace through the rest of this year and into 2016.

Decision in Rio Tinto’s case against Vale over Simandou imminent— report

Cecilia Jamasmie | August 19, 2015
Decision in Rio Tinto’s case against Vale over Simandou imminent— report

New York court must decide by September whether or not it accepts Vale and BSGR request to dismiss the lawsuit that claims they conspired to steal Rio's rights over the asset.

Canadian miner profit hit by Codelco’s striking contractors, snow storm

Cecilia Jamasmie | August 19, 2015
Canadian miner profit hit by Codelco’s striking contractors, snow storm

Cerro Grande said the events had adversely impacted operations at its Pimenton mine in Chile, and will have a negative impact on its fourth fiscal quarter, ending Sept. 30, 2015.

Barrick Gold reshuffles top management team

Cecilia Jamasmie | August 17, 2015
Barrick Gold reshuffles top management team

Co-President Kelvin Dushnisky will take over as president as the world’s largest gold producer restructures management to boost efficiencies.

Oilprice.com

The Saudi oil price war is backfiring

Oilprice.com | August 12, 2015
Here's why Saudi Arabia needs nuclear power

With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump.

Codelco says over $15 million in damages due to strike at Salvador mine

Cecilia Jamasmie | August 9, 2015
Codelco says over $15 million in damages to its Salvador mine due to strike

Codelco, the world's No.1 copper producer, confirmed it will start legal actions against protesters this week.

British investment fund to buy Anglo’s mines in Chile

Cecilia Jamasmie | August 9, 2015
British investment fund to buy Anglo’s mines in Chile

According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.

Massive gold reserves in Greece offer unique opportunity for Eldorado Gold

SNL Metals & Mining | August 6, 2015
Greek court hands small, but key victory to Eldorado Gold

It's no secret that economic turmoil and extreme uncertainty in Greece pose major threats to the global economy.

Peruvian police burns down entire illegal gold mine town

Cecilia Jamasmie | July 31, 2015
Peruvian police burns down entire illegal gold mine town

The action has triggered severe criticism, with many are accusing authorities of an excessive use of public force.

Goldcorp slashes dividend 60% amid dire gold market

Cecilia Jamasmie | July 30, 2015
Goldcorp axes dividend

The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.

Codelco resumes operations at Chuquicamata amid fresh road blockages

Cecilia Jamasmie | July 30, 2015
Codelco resumes operations at Chuquicamata amid fresh road blockages

A group of demonstrators, however, continued to block some access roads on Thursday morning, attempting to seize a bus that was heading to the nearby Gabriela Mistral mine.

Antofagasta cuts copper output forecast for the year

Cecilia Jamasmie | July 29, 2015
Antofagasta cuts copper output forecast for the year

This is the second time this year that the London-listed miner slashes its annual copper production guidance.

Codelco halts world's largest open pit copper mine over strike

Cecilia Jamasmie | July 28, 2015
Codelco halts world's largest open pit copper mine over strike

Things took a turn for the worse Friday, when a worker was shot dead by police near the company's smaller Salvador mine in northern Chile.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

Cecilia Jamasmie | July 24, 2015
Anglo American to axe 53,000 jobs, put 15 assets up for sale

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Vale adds to iron ore supply glut — second highest ever quarterly output

Cecilia Jamasmie | July 23, 2015
Vale adds to iron ore supply glut — second highest ever quarterly output

The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.

Coal slump hits Teck’s profit, output forecast

Cecilia Jamasmie | July 23, 2015
Coal slump hits Teck’s profit, output forecast

The Vancouver-based miner profit fell 21% in the quarter, making it adjust its 2015 coal production forecast to 25-26 million tonnes from 26.5-27.5 million tonnes.

Chile's copper output to fall after 2025

EFE | July 22, 2015

According to the Chilean Copper Commission (Cochilco) it would happen due to lack of appropriate technology.

Visual Capitalist

INFOGRAPHIC: The world economy in one visualization

Visual Capitalist | July 22, 2015

Today’s data visualization is the most simple breakdown of the world economy that we’ve seen.

Anglo American to write down up to $4bn on weak commodity prices

Cecilia Jamasmie | July 16, 2015
Anglo American to write down up to $4bn on weak commodity prices

This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.

Anglo American likely to cut dividend amid commodities collapse

Cecilia Jamasmie | July 15, 2015
Anglo American likely to cut dividend amid commodities collapse

It would be the first time since 2009 that Anglo has to cut dividends.

Cecilia Jamasmie

Iron ore prices: the worst is yet to come

Cecilia Jamasmie | July 9, 2015
Iron ore prices: the worst is yet to come

Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.

Chile’s Codelco to issue $2.5 billion in bonds amid copper prices collapse

Cecilia Jamasmie | July 9, 2015
Chile’s Codelco to issue $2.5 billion in bonds amid copper prices collapse

Though very few talk about it, Codelco is still suffering the consequences of a deal it signed with China's Minmetals back in 2006.

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