First Quantum will invest $1.5 million to advance exploration work at the Orquideas and Cascas assets in the first year, with the option of investing an additional $37 million over the course of the subsequent four years covered by the deal.
South America Mining News
Newmont sells stake in Yanacocha gold mine to Japan’s Sumitomo for $48 million
Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Barrick Gold walks away from Guyana joint venture project
Alicanto Minerals will retain 100% of Arakaka gold project.
Indian regulator approves Nutrien’s sale of stake in SQM to Tianqi
The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China’s Tianqi Lithium.
Chile antitrust watchdog probing Tianqi buy of lithium miner stake
The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,
Mitsubishi ups stake in Anglo’s Quellaveco copper project in $600-million deal
Anglo will sell a 21.9% stake in its Peruvian copper project to Mitsubishi, increasing the Japanese firm’s stake in the venture to 40%.
Prosper One enters Memorandum of Understanding (MOU) to spend $3m to earn 55% of lithium Chile's Pintadas Norte project.
Prosper One and Lithium Chile will enter into a joint venture agreement where Prosper One may earn a 55% interest in Lithium Chile’s Pintadas Norte project.
Copper veteran has unfinished business at world’s biggest pit
Nelson Pizarro wants to remain at the helm of the world’s biggest copper company until he can cut the ribbon on a project to convert its flagship pit into a giant underground mine.
Brazilian President changes decades-old mining laws to lure investment, protect environment
The two separate decrees aim at making the local industry more competitive and sustainable, while while implementing rules on the collection of higher mining royalties.
Escondida union in Chile optimistic will reach deal with BHP
The union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3 pm local time on Monday.
Vale confirms coming ‘announcement’ about Canada’s Voisey's Bay mine
Government and company officials told CBC News that a "significant" mining announcement would take place on Monday.
Brazil’s President to change mining regulations as early as next week
Michel Temer is expected to issue a decree next week introducing key changes to mining rules that date back to the 1960s.
About 75,000 jobs to go in Germany’s auto industry because of EVs — study
The country's car industry currently employs about 840,000 people, with 210,000 of them working on powertrain production, the sub-sector set to be the worst hit.
Emeralds and rubies producer Fura Gems changes look
The company, which began operations a year ago, said the move seeks to strengthen its communication with key stake holders and consumers.
Gold Fields to set aside acquisitions, sees industry costs rising — CEO
The South African gold producer is setting aside pursuit of new acquisitions for a year as it focuses on its existing operations and nearby prospects instead, the bullion producer's chief executive told Reuters late on Tuesday.
Electric vehicles on the road to triple by 2020 — IEA
The number of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increased by 57% in 2017 from the previous year.
Tía María copper project gaining legitimacy in Peru: exec
Southern Copper’s Manager of Technical Services said that the company has been able to knock down previous resistance from local communities.
China's Chilean entry raises doubts about lithium price outlook
SQM shares plunge after Tanqi Lithium acquisition seems to indicate cooling fervour for lithium assets.
Anglo close to selling part of stake in giant Peruvian copper project
Quellaveco is one of the world’s largest untapped copper orebodies and Anglo’s board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.
Yamana begins gold and silver production at Cerro Moro mine in Argentina
Commercial production is expected in the second quarter of the year.
BHP faces shareholder class action over Brazil mine disaster
Australian law firm Phi Finney McDonald alleges BHP knew the dam was at imminent risk of breaking but did not tell markets.
Barrick signs 10-year gas supply deal to make Dominican mine greener
Converting the power plant that feeds the Pueblo Viejo mine from heavy fuel oil to natural gas is expected to reduce the operation’s average cost of sales and all-in sustaining costs by about $54 per ounce.
Argentina luring Australian investors into its mining sector
The Deputy Secretary for Sustainable Mining is scheduled to meet with executives from Australia's largest mining companies and banks.
Votorantim swings to profit on higher metal prices
Votorantim said profit was also boosted by sales growth in its aluminum and cement businesses.
Chile’s Caserones copper mine a pain in the neck for Japanese owners
The mine, behind schedule ever since it began producing in May 2014, has been affected by a series of technical problems in its ramp-up phase, costing its owners hefty impairment charges.
