Latin America Top Stories

Codelco chief criticizes low productivity, regulatory hurdles in Chile

Codelco Chief Executive Nelson Pizarro said in a presentation on…

Workers at Codelco’s Chuquicamata mine to vote on strike action

Unionized workers rejected on Saturday the miner’s final contract negotiation…

Create FREE account or log in

to receive MINING.COM digests


Latest Stories

Golden Minerals to buy ECU in $309m reverse merger

Golden Minerals Co said it will buy Canada's ECU Silver Mining in a reverse merger for about C$302.5 million ($309.1 million) in stock and cash, to form a new silver mining company focused on Mexico and Argentina. Under the terms of the deal, ECU shareholders will get 0.05 common shares of Golden Minerals and about $0.000394 in cash for each share they hold.

Dynacor Gold Mines has best month of production in company’s history

Dynacor Gold Mines Inc. (TSX:DNG) is pleased to provide a second quarter operations update. In the month of May, Dynacor produced from its custom milling plant a historic best of 4,183 ounces of gold (representing more than 50,000 ounces on an annualized rate). Furthermore, during Q1-2011 the company, using cash directly generated from operations, optimized the plant's yield at the current capacity of 180 tpd (tonnes per day). The expansion program, which included installation of an additional cyanidation tank and a 90 tpd ball mill, will facilitate a capacity increase from 180 tpd to just over 200 tpd during the 2nd part of 2011.

Vale scraps Fertilizer unit sale

Brazilian miner Vale (VALE5.SA:Quote) said on Wednesday it had scrapped plans to sell stock in its fertilizer division, and would take the unit private, buying shares in the company it does not already own. Vale plans to pay up to 2.2 billion reais (US$1.4 billion) to buy out minority investors of Vale Fertilizantes, whose main asset is a stake in Fosfertil (FFTL4.SA: Quote).

Colibri reports more drill results at Ramard; 311 grams per tonne silver, 2% lead, and 3.4% zinc between 37 and 38 meters depth, plus multiple intervals of silver-lead-zinc.

Colibri Resource Corporation reports final results from a 2400 meter drill program at the Ramard silver project, in Sonora, Mexico. The Ramard property consists of over 4000 hectares of mineral concessions located 100 km north of the city of Hermosillo, Sonora, wholly owned by Colibri's Mexican subsidiary, Minera Halcones. The Ramard property contains numerous historical artisanal silver mine workings.

Iron ore miner battles with Brazil project amid takeover talk

Dow Jones reports a Khazakhstan mining and metals group says it's forging ahead with plans to build a $2 billion iron ore mine in northeast Brazil despite major logistical and environmental obstacles, while speculation about a takeover-bid swirls. The Pedra de Ferro iron ore project is already four years behind schedule, and the company may miss the 2014 start-up date as it is still waiting for environmental licenses to build a port from which to ship the iron ore, and for Brazil's federal government to build a railroad.

Extorre announces $25 million bought deal private placement financing

Extorre Gold Mines announced that it has entered into an agreement pursuant to which a syndicate of underwriters led by TD Securities Inc. (the "Underwriters") has offered to purchase, on a bought deal private placement basis, 2,400,000 common shares (the "Shares") of the Company at a price of $10.50 per Share (the "Issue Price") for total gross proceeds of $25,200,000 (the "Offering"). The net proceeds from the Offering will be used for exploration and development of the Company's mineral projects in Argentina and for general working capital purposes.

Brazilian Diamonds Limited: company provides update on private placements

Further to its news release of April 14, 2011 the Company announces that it has completed the private placement of 16,655,920 shares at $0.10 per share, the proceeds of which are to be used to fund the costs of the transaction with Origo Partners PLC ("Origo"), as detailed in the April 14 Release and to retire outstanding indebtedness. The private placement closed in two tranches, with 9,700,000 shares issued subject to a hold period expiring September 6, 2011 and the balance of 6,955,920 shares being issued subject to a hold period expiring October 17, 2011.

Power returns to Chile’s mining heartland

Power supplies have returned to normal in Chile's northern mining heartland after a power grid failure hit some of the world's biggest copper mines earlier on Sunday, the mining minister said. Chilean Energy and Mining Minister Laurence Golborne told Reuters power supplies were back to "100 percent" and that the impact on production in the top global copper producer was expected to be minimal.