South America Mining News

Argentina’s new government scraps mining taxes

President Mauricio Macri has revoked a 5% tax imposed by the previous administration on mining companies.

Colombia bans mining in country’s vast moorlands

Mining in the area of the Andes mountains right above the continuous tree line had been prohibited since 2011, but concessions granted before such ban had continued to date.

Leakage at Anglo American’s Los Bronces mine forces firm to halt grinding

Firms says the affected pipe only carries ground ore mixed with water.

Chile’s court confirms 2nd highest fine in history for Caserones mine

The copper mine, property of Japan's top smelter JX Nippon Mining & Metals, will have to pay $10.8 million for breaching environmental rules.

Anglo American risks eviction from FTSE 100

FTSE 100 reweighting to take place in March.

Anglo American may fully exit Brazil — report

The company is said to be wanting to offload its Barro Alto nickel mine and the vast Minas-Rio iron ore complex.

Anglo American shares rally on iron ore output hike, cost-cutting measures

The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.

Antofagasta to lift copper output in 2016 after missing last year's target

The miner expects an output of 710,000-740,000 tonnes for 2016 as it ramps up production at its Antucoya and Centinela Concentrates mines, as well as from its share in Zaldivar mine, which co-owns with Barrick Gold.

Inception Mining's diverse batch of assets offers production now, growth later

Inception CFO and Director Trent D'Ambrosio shares with The Gold Report his company's plans to boost production and expand mine life at Clavo Rico.

Vale reopens iron port for at least 60 days

The company has now at least 60 days to come up with a plan to address and fix pollution problems tied to its operations Tubarão, one of Vale's most important ports.

Chile losing ground as top copper producer since metal price in the pits

From 2005 to 2015 Chile's copper output rose a mere 8%, while Peru’s grew 37%, China’s 114%, Zambia’s 72% and Congo’s 956%.

Vale port shut down likely to affect iron ore market, prices jump

The suspension of activities at Vale's Port of Tubarão, ordered by a Brazilian federal court on Thursday, is likely to cause strong reaction in the global iron ore market.

Barrick braces for up to $3 billion in writedowns

The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.

Samarco top executives take leave two months after Brazil dam burst

CEO Ricardo Vescovi and operations chief Kleber Terra were among those accused of environmental crimes by Brazil’s Federal Police earlier this month.

Double-digit growth expected for Chile, Colombia, Peru and Mexico — Scotiabank

Despite recent market volatility and exposure to low oil and commodity prices, the countries growth won't be affected, says the bank.

MMG’s gigantic Las Bambas mine in Peru makes first copper shipment to China

The company shipped roughly 10,000 tonnes of copper concentrate from Las Bambas from the Port of Matarani to China on Jan. 15.

The world's southernmost mines

Chile's Invierno coal mine is, by far, the southernmost mine on the planet.

Devastation caused by illegal miners in Peru reaches national reserve

Recently released satellite images show that devastation from illegal gold mining activities in Peru is now reaching the Tambopata National Reserve, an important protected area in the country’s southern Amazon.

Colombian police begins evicting illegal miners from Continental Gold’s claims

The Canadian miner's Buriticá gold-silver-zinc project is located about 75 km from Medellín, the country’s second largest city.

Ecuador, Lundin Gold reach agreement to develop Fruta del Norte

Lundin will pay Ecuador an advance royalty of $65 million. In exchange, the miner won’t be charged a windfall tax until it recovers its development investment.

Chile mulls scrapping copper funding for military

Codelco chairman, Oscar Landerretche, wants the government to scrap the country’s Copper Law, which forces the firm to give 10% of its annual export revenue to the Armed Forces.

Anglo American officially out of the Middle East

The miner has finally completed the sale of assets from its Tarmac joint venture to a subsidiary of French engineering and construction group Bouygues.

Chile’s copper miners still making money despite price collapse

Official figures contradict recent local reports showing that most copper miners in the country are barely breaking even at current metal prices.

Freeport-McMoRan chairman resigns, shares plummet

The company's co-founder James Moffett will step down as chairman and quit the board.

Mining projects worth $56 billion to come on stream in Peru beginning 2016

China is currently the top investor in the country's sector, pumping $19.2 billion into several copper, gold and silver projects.