Latin America Top Stories

Samarco could reach partial deal with Brazil prosecutors on Monday

Samarco's operations have been suspended since Brazil's mining disaster.

Escondida labour dispute is unresolved

Mine accounts for 2.5 per cent of Chile's economy.

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Hochschild Mining announces 13% fall in H1 output

Latin American precious metal producer Hochschild Mining said output fell 13 percent in the first half, as expected, and that it was on track to meet its full-year target. It produced 11.1 million silver equivalent ounces in the first half due to lower grades at the company's two main Peruvian operations, declining output from its two ageing Ares and Moris mines, and industrial action at its San Jose mine.

Portage Resources: Peru explorer that’s not for the faint-hearted investor

When a 4.5% jump in stock price with 15 million shares changing hands on news of the acquisition of three new concessions is considered a dull trading day then you know you're dealing with a volatile stock. Portage Resources has gone from 2c to 65c a share in the matter of three months but the Peruvian explorer has certainly not been a one-way bet – the stock's 52-week high is $1.24. The company based in Miraflores, Lima (pictured) has been snapping up silver properties in Peru, but after announcing silver reserves worth $2.3 billion at one of them the stock has been unstoppable.

Bear Creek bounces after taking legal action against Peru

Shares in Canada’s Bear Creek Mining Corporation bounced by over 4% at the open on Wednesday after the company announced it was launching legal action against the Peruvian government to regain its license for a mining concession in the south of the country. Peru cancelled Bear Creek’s licence in late June after protests against the Santa Ana Silver project resulted in five people being killed by police at an international airport 160km away from the site. Bear Creek’s injunction comes weeks ahead of the swearing in of the South American nation’s new leftwing president Ollanta Humala (pictured).

Northgate Minerals to acquire Primero Mining for $370 million

Northgate Minerals announced on Wednesday that it will acquire Primero Mining for $370 million. The new company, which will have a combined market capitalization of approximately $1.2 billion, will be a mid-tier gold producer and will tie together the San Dimas mine in Mexico; the Fosterville and Stawell gold mines in Australia; and the Young-Davidson gold development project in Ontario.

Fluor wins contract for Chilean copper mine

Fluor Corp said on Wednesday it won a contract from Quadra FNX Mining Ltd for work on its new Sierra Gorda copper and molybdenum project in Chile. Fluor said it booked $1 billion for the project in the Atacama Desert in the second quarter, and its work will include providing engineering, production and construction management services for the mine's processing plant.

Mexico shuts down 12 mines for safety problems

Federal authorities have shut down 12 mines in northern Mexico after inspections spurred by an accident last month that claimed the lives of 14 workers, the labor department said. Inspectors have already visited 41 of the 100 sites on their list, the department said in a statement.