South America

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.

Chile gives copper giant Codelco much-needed $225 million cash injection

Cecilia Jamasmie | July 2, 2015
Chile gives copper giant Codelco much-needed $225 million cash injection

The funds will come from the company’s own 2014 profits, as the state-owned miner gives its profits to Chile's government.

Anglo American laying off up to 20% of its staff as investors press for further savings

Cecilia Jamasmie | July 2, 2015
Anglo American laying off up to 20% of its staff as investors press for further savings

Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.

BHP tipped as favourite in race for Barrick’s Zaldivar mine in Chile

Cecilia Jamasmie | June 29, 2015
Barrick sells 50% of Zaldivar for $1 billion cash

BHP already operates the world’s largest copper mine, Escondida, which sits, quite literally, across the road from Zaldivar.

Chile may revoke Teck’s copper mine permit over environmental breaches

Cecilia Jamasmie | June 23, 2015
Chile may revoke Teck’s copper mine permit over environmental breaches

Teck is facing sanctions over infractions that include openings in the deposit where the ore is stored and a failure to build sufficient water infrastructure.

Workers at Chile's Collahuasi copper mine end strike

Cecilia Jamasmie | June 16, 2015
Workers at Chile's Collahuasi copper mine end strike

The 24-hour stoppage did not affect operations, according to the mine management.

Mining investments in Chile to reach $64 billion by 2025 — report

Cecilia Jamasmie | June 5, 2015
Mining investments in Chile to reach $64 billion by 2025 — report

According to the state copper commission, Chile’s portfolio of planned mining investments remains the largest in Latin America.

Pacific Potash risks mining rights in Brazil over $2.1 million tax debt

Cecilia Jamasmie | June 5, 2015
Pacific Potash risks mining rights in Brazil over $2.1 million tax debt

This is not the first time the company’s rights for its Amazonas project have been at risk of being revoked for failure of tax payments.

Southern Copper mulls extending Tia Maria project halt

Cecilia Jamasmie | June 5, 2015
Southern Copper mulls extending Tia Maria project halt

The company could extend a 60-day pause in effect since late May to allow locals more time to clear up their doubts about the project’s environmental impact.

Chile may be China’s next competitor in the rare earths market

Cecilia Jamasmie | June 4, 2015
Chile may be China’s next competitor in the rare earths market

Chilean company Mineria Activa is stepping up efforts to grab some of that market in a much greener way than China,

Chile regulator seeks sanctions against Lundin’s Candelaria mine

Cecilia Jamasmie | May 27, 2015
Chile regulator seeks sanctions against Lundin’s Candelaria mine

Inspections that took place between 2013 and 2014, revealed 16 infractions, nine of which were considered very serious.

Chile’s Codelco sues Vale, Brazilian Department of Mines over exploration license

Cecilia Jamasmie | May 26, 2015
brazil-carajas

After spending over US$3.3 million in exploration and development of the Liberdade copper project, Codelco is facing Vale's claims that it has an older and still valid licence for the property.

Cecilia Jamasmie

China’s Zijin inks deals with two Canadian firms on the same day

Cecilia Jamasmie | May 26, 2015
China’s Zijin grabs stake in two Canadian firms on the same day

Perhaps the most important aspect of today’s agreements is the fact that both aim to form long-term strategic partnerships to collaborate on further ventures, opening new markets for all the firms involved.

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