R/€ = 15.99 Change: 0.10
R/$ = 14.01 Change: 0.19
Au 1221.79 $/oz Change: 6.30
Pt 847.50 $/oz Change: 5.71

South America News

Nespresso to use Rio Tinto’s responsibly-sourced aluminium in coffee capsule production

By: Marleny Arnoldi     Updated 1 hour 5 minutes ago Nespresso, an operating unit of Nestlé Group, will be the first company to use responsibly-sourced aluminium from global miner Rio Tinto to produce its coffee capsules. The two companies have signed a memorandum of understanding (MoU) to work together with Nespresso’s capsule manufacturers to... 

Lundin confirms job cuts at Chile's Candelaria copper mine

By: Reuters     18th November 2018 Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike. In a statement sent to Reuters, the company said the job cuts represented less than 2% of... 

Barrick Gold eyes assets, exploration as it plots new phase

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Barrick Gold eyes assets, exploration as it plots new phase
Mark Bristow

Teck to announce Chile project partner in December

By: Mariaan Webb     16th November 2018 Canadian miner Teck Resources is making good progress with the process of bringing a partner into its northern Chile copper development project and plans to announce a transaction next month, CEO Don Lindsay said on Thursday. The company sees the Quebrada Blanca Phase 2 expansion as its most... 

Leagold announces 122% increase in Los Filos openpit reserves

16th November 2018 Latin America-focused Leagold has announced an increase in the proven and probable mineral reserves at the Los Filos openpit, in Mexico, to 40.5-million tonnes, grading 0.60 g/t containing 780 000 oz. This represents a 122% increase over the December 2017 estimate of 351 000 oz. 

Palladium soars to record on tight supply, bets on China demand

By: Bloomberg     16th November 2018 Palladium surged to a record on bets that the Chinese auto industry will buoy global demand amid tight supplies of the metal used in vehicle pollution-control devices. Spot palladium rose as much as 4.6 percent to an all-time high of $1 180.26 an ounce, capping a third straight gain. The... 

Palladium soars to record on tight supply, bets on China demand

Kari Pump discovery adds 987 000 oz to mineral resource at Endeavour’s Houndé mine

By: Marleny Arnoldi     15th November 2018 TSX-listed Endeavour Mining on Thursday announced a maiden resource estimate of 11.3-million tonnes grading 2.71 g/t gold, containing 987 000 oz, for the Kari Pump discovery at the company’s flagship Houndé mine, in Burkina Faso, increasing the mine’s measured and indicated resources by 40%.... 

Antofagasta approves $1.3bn Chile copper expansion

By: Mariaan Webb     15th November 2018 The Los Pelambres copper mine is set for a $1.3-billion expansion, with London-listed Antofagasta on Thursday announcing that production at the Chile mine would be increased by an average 60 000 t/y. The project, owned 60% by Antofagasta and 40% by consortiums led by Nippon and Mitsubishi, will... 

Antofagasta approves $1.3bn Chile copper expansion
Antofagasta CEO Ivan Arriagada

Global exploration up 19%; cobalt/lithium budgets soar 

By: Esmarie Iannucci     15th November 2018 The budget for global non-ferrous exploration has increased by 19% year-on-year, to $10.1-billion, new data from S&P Global Market Intelligence has revealed. This was the second consecutive year where there has been an upturn in exploration spend, with S&P reporting on Thursday that junior... 

Global exploration up 19%; cobalt/lithium budgets soar

Sibanye-Stillwater concludes gold wage agreement with three unions

By: Marleny Arnoldi     15th November 2018 JSE- and NYSE-listed gold miner Sibanye-Stillwater has signed a three-year wage agreement with the National Union of Mineworkers, Solidarity and UASA for the period July 2018 to June 2021. The agreement allows for increases to the basic wage of Category 4 to 8 surface and underground employees... 

Sibanye-Stillwater concludes gold wage agreement with three unions

Vale holds talks to expand world's biggest openpit iron mine

By: Bloomberg     15th November 2018 Vale is holding talks with Brazilian officials about expanding the world’s largest open pit iron-ore mine to meet growing Chinese demand for the high-grade ore. The Rio de Janeiro-based company recently sat down with regulators to discuss expanding its $14-billion mine located in the Amazon... 

Rio Tinto joins race for Teck's copper project stake - sources

By: Reuters     14th November 2018 LONDON – Rio Tinto is among parties making a final offer for a minority stake in Teck Resources' Quebrada Blanca copper mine expansion in northern Chile, a development worth $4.8-billion, two sources close to the matter said. The world's second largest mining company is eager to boost its copper... 

Copper industry sees green shoots of demand after trade war price slump

By: Reuters     14th November 2018 The outlook for copper demand in the mid to long term remains healthy despite current trade friction between China and the United States as a renewable energy revolution will require vast amounts of the metal, industry executives said on Wednesday. Delegates at the Asia Copper Conference in... 

Delayed gold shipments hit Serabi Q3 revenue

By: Mariaan Webb     14th November 2018 Aim- and TSX-listed Serabi Gold has reported a significant drop in third-quarter revenue as a result of the timing of gold sales, with two shipments of concentrate, valued at about $1.6-million, having been delayed to the fourth quarter. The miner, which operates the Palito Mining Complex in... 

Pan American Silver buys Tahoe Resources

By: Mariaan Webb     14th November 2018 The world’s second-largest primary silver producer, Pan American Silver, is about to get bigger with the $1.07-billion acquisition of Tahoe Resources, which owns the troubled Escobal silver mine, in Guatemala, in addition to gold mines in Peru and Canada. Pan American Silver, which operates six... 

Pan American Silver buys Tahoe Resources
Escobal is the world's second-largest silver mine.

Electric vehicle revolution goes underground with mining trucks  

By: Bloomberg     14th November 2018 Electric vehicles are reaching global markets far and wide – and deep. Swedish mining equipment maker Epiroc is launching a new range for use underground. The manufacturer on Wednesday unveiled what it said is the largest battery-powered vehicle for below the Earth’s surface: a 42 ton-capacity... 

Leagold to restart RDM ahead of plan

By: Creamer Media Reporter      14th November 2018 The water storage facilities at the RDM mine have reached sufficient levels to restart operations, Latin America-focused Leagold said on Tuesday, announcing a planned restart date of November 20. This is about two weeks ahead of the previously anticipated schedule, CEO Neil Woodyer reported. 

Workers at Iamgold’s Rosebel down tools

By: Creamer Media Reporter      14th November 2018 Unionised employees at the Rosebel gold mine, in Suriname, have downed tools, triggering a force majeure to suspend operations at the mine. Canadian miner Iamgold said on Tuesday that the strike was in breach of a collective labour agreement (CLA) and that it would prepare legal action against... 

Brazil lawmakers slam Norsk Hydro, regulators for Alunorte leak

By: Reuters     14th November 2018 "Failures and possible crimes" led to a February leak of mineral byproduct at Norsk Hydro ASA's Alunorte alumina refinery in the Amazonian state of Para, a special commission in Brazil's lower house said in a report released on Tuesday A congressional commission assembled to look into the... 

Chilean regulators reject Albemarle's plans to boost lithium output

By: Reuters     14th November 2018 Chilean environmental regulators have rejected plans by Albemarle Corp, the world's top lithium producer, to expand output from the Salar de Atacama salt flat, according to filings with Chile's Environmental Assessment Service (SEA). SEA said in a resolution on Monday that Albemarle's... 

Chilean regulators reject Albemarle's plans to boost lithium output

Electrifying the world no panacea for global warming, IEA says  

By: Bloomberg     13th November 2018 Driving electric cars and scrapping your natural gas-fired boiler won’t make a dent in global carbon emissions, and may even increase pollution levels. Higher electrification may lead to oil demand peaking by 2030, but any reduction in emissions from the likes of electric vehicles will be offset... 

Global platinum production to rise to 6.7Moz by 2022 – GlobalData

By: Marleny Arnoldi     12th November 2018 LSE-listed data and analytics company GlobalData expects platinum production to increase from 2019 to 2022. After a contraction of 2.1% in 2016, global platinum mine production recovered marginally by 0.8% in 2017 to 6.1-million ounces, which was mainly supported by South Africa and the US... 

Global platinum production to rise to 6.7Moz by 2022 – GlobalData

Jangada slashes project costs by almost a third

By: Mariaan Webb     12th November 2018 The Pedra Branca platinum group metals (PGM) project’s total capital cost has been reduced by 32%, following the refinement and optimisation of the process flowsheet. The project’s total capital expenditure (capex) fell from an estimated $64.9-million in the preliminary economic assessment... 

Rio Tinto Exploration Canada starts drilling Fort à la Corne kimberlites

By: Creamer Media Reporter      11th November 2018 Rio Tinto Exploration Canada (RTEC) has started drilling the Fort à la Corne kimberlites, in Saskatchewan, as it reinvestigates these kimberlites that Star Diamond and other companies have previously explored. The Fort à la Corne kimberlites are outside the Star and Iron South kimberlites, which... 

Guyana Goldfields starts underground construction

By: Creamer Media Reporter      11th November 2018 TSX-listed miner Guyana Goldfields has started underground development at the Aurora mine, in Guyana, completing the first blast on the Mad Kiss portal. The blast is a key milestone and marks the start of underground construction, president and CEO Scott Caldwell reported on Friday. 

Gold Fields lowers South Deep’s FY production forecast 

By: Simone Liedtke     9th November 2018 Dual-listed Gold Fields has lowered its production guidance for the South Deep mine, in South Africa, for the full year to 154 000 oz, from the previously anticipated 244 000 oz target. The deep-level mine, which is Gold Fields’ only remaining South African operation, has long been faced with... 

Gold Fields lowers South Deep’s FY production forecast
Photo by Creamer Media
Gold Fields CEO Nick Holland

Capstone streamlines organisational structure

By: Creamer Media Reporter      9th November 2018 Base metals miner Capstone has announced reductions to its organisational structure, including changes to its senior executive team. The changes include eliminating 35% of positions from its head office in Vancouver, which would reduce corporate general and administrative expenses by about... 

Brazil court upholds partial shutdown at Hydro Alunorte alumina refinery

By: Reuters     8th November 2018 A federal court in Brazil once again upheld a decision by a state court forcing aluminum-maker Norsk Hydro to run its Alunorte alumina refinery, the world's largest, at half capacity, state prosecutors said on Wednesday. The decision, made on Tuesday, is part of a months-long environmental... 

Perkoa to make up for lower output from Caribou – Trevali

By: Mariaan Webb     8th November 2018 A stellar production quarter from the Perkoa mine, in Burkina Faso, is keeping zinc and lead miner Trevali on track to achieve its production guidance this year, offsetting lower expected output from the Caribou mine, in New Brunswick, Canada, president and CEO Mark Cruise reported on Wednesday.... 

Kinross maintains FY guidance, appoints new chair

By: Creamer Media Reporter      8th November 2018 Canadian company Kinross has maintained its production guidance for the year, despite producing fewer gold equivalent ounces (GEOs) in the third quarter, and also announced the appointment of a new chairperson to succeed John Oliver when he retires at the end of December. The... 

BHP acquires two Canadian oil licences

By: Esmarie Iannucci     8th November 2018 Mining major BHP has acquired two exploration licences in the offshore Orphan basin, in Eastern Canada. The miner on Thursday reported that it had been successful in its bid to acquire a 100% participating interest and ownership of blocks 8 and 12 in the Orphan basin, giving BHP the opportunity... 

BHP acquires two Canadian oil licences

Guyana Goldfields CFO takes medical leave

By: Creamer Media Reporter      7th November 2018 TSX-listed Guyana Goldfields said on Wednesday that executive VP of finance and CFO Paul Murphy had taken a medical leave of absence and VP of finance, Christopher Stackhouse, had been appointed interim CFO. The board wished Murphy a speedy recovery and said that it had confidence in Stackhouse... 

Albemarle's claim to unique lithium technology draws scrutiny

By: Reuters     7th November 2018 Albemarle's claim to have developed a unique process that would more than triple its lithium production from Chile's Atacama desert without using more water is drawing increased scrutiny from regulators and investors pushing for more details. The development could help Albemarle cement its... 

Tahoe Resources loss less then forecast but wider than last year

By: Reuters     7th November 2018 Tahoe Resources Inc posted a quarterly loss on Tuesday that was less then Wall Street expected although it widened from a year earlier, while the gold and silver miner predicted that its production for the year would be at the low end of guidance. Tahoe's Escobal silver mine in Guatemala, the... 

Iamgold says growth projects robust as third-quarter output slips

By: Mariaan Webb     7th November 2018 Canada-based Iamgold has a robust pipeline of development projects and is looking to bolster its credit facility to facilitate its growth strategy, president and CEO Steve Letwin said on Tuesday, after reporting lower third-quarter production and revenue. The company, which operates mines in the... 

Iamgold says growth projects robust as third-quarter output slips
Iamgold CEO Stephen Letwin

Glencore's radioactive news may help give cobalt its buzz back  

By: Bloomberg     7th November 2018 Glencore’s sudden discovery that some of its cobalt is radioactive couldn’t come at a better time. After a surge in prices last year, enthusiasm for cobalt has been fading, partly because of a surge in new supply. But sentiment could be changing after Glencore’s unit in the Democratic Republic of... 

Glencore's radioactive news may help give cobalt its buzz back

For Tahoe Resources, Guatemala troubles underscore tense outlook

By: Reuters     6th November 2018 A years-long fight over the future of the world's second largest silver mine between Tahoe Resources and opponents of the project shows no signs of abating, creating uncertainty for the US miner and its investors. With environmental and indigenous opponents of Tahoe's Escobal mine vowing it will... 

ECR scouting for low-cost gold, energy metals opportunities

By: Creamer Media Reporter      6th November 2018 Difficult market conditions in the junior resource sector have opened up multiple prospects for London-listed ECR Minerals, which on Tuesday confirmed that it was considering a number of gold and potentially energy minerals opportunities. The company has already announced an option agreement to... 

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