The mine and processing complex, in operation since 1997, will be placed on care and and maintenance by year-end.
Uruguay Mining News
Orosur says that the scarcity of alternative sources of ore at its Uruguayan project is resulting in financial liquidity constraints.
Zamin Ferrous alleges that the passing of a new mining law turned out to be a major change in the game rules in the South American country.
Recently approved law allows large-scale mining, but locals oppose the project and demand plebiscite to settle the issue.
About 2,000 people rallied in Uruguay’s capital, demanding the government to stop London-based Zamin Ferrous's $3 billion Valentines iron ore mine and other major projects.
It opens up the country's deposits of iron ore estimated in 2,500 million tons. If mined, Uruguay couldbecome world’s eighth largest iron ore producer.
Main reserves are located in the country's most eastern province, next to Brazil.
Latin American-focused Canadian miner B2Gold said Wednesday it will buy CGA Mining for $1.1 billion to gain access to the Masbate mine, the largest operating gold project in the Philippines.
B2Gold Corp. announces further positive exploration drill results from the Cebollati project in Uruguay
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2011) - B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF)(PINK SHEETS:BGLPF) ("B2Gold" or the "Company"), is pleased to announce additional drilling results from the first exploration drill program at its newly discovered Cebollati gold project in Uruguay. B2Gold is earning an 80% interest in the property.