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Chile anti-trust regulator to probe Tianqi purchase of SQM stake

By: Reuters     16th June 2018 Chile's anti-trust regulator FNE said on Friday it would open an investigation into the effects on the market of China's Tianqi purchase last month of a 24% stake in SQM, one of the world's top lithium producers. Chile's government under former President Michelle Bachelet in March filed a... 

Copper veteran has unfinished business at biggest openpit

By: Bloomberg     13th June 2018 Nelson Pizarro wants to remain at the helm of the world’s biggest copper company until he can cut the ribbon on a project to convert its flagship pit into a giant underground mine. He’s been in mining for most of his 77 years, with the last four spent guiding state-owned Codelco through a... 

Copper giant's cost crusade imperiled by wage largess of peers

By: Bloomberg     13th June 2018 Generous wage concessions made by private-sector copper producers to avoid strikes in Chile are emboldening unions at Codelco, undermining efforts by the state-owned behemoth to contain costs. That’s the view of CEO Nelson Pizarro, whose focus on costs in a five-decade mining career earned him... 

Chile creates committee to oversee lithium contracts

By: Reuters     12th June 2018 Chile's government said on Monday it was creating a committee to supervise lithium contracts the state has with local miner SQM and US-based Albemarle Corp, deals that are key to positioning the country as a top producer of the white metal. The committee will aim to ensure concession agreements... 

BHP, union at Chile's Spence copper mine reach labour agreement

By: Reuters     12th June 2018 Unionised workers at BHP's Spence copper mine in northern Chile agreed on Monday to a new collective labor contract, the company and the union said. The deal comes as the Anglo-Australian miner begins talks with the nearly 2 500-member union at its Escondida copper mine in northern Chile, the... 

Workers at BHP's Spence copper mine in Chile approve labour contract

By: Reuters     11th June 2018 Unionised workers at BHP Billiton's Spence copper mine in northern Chile have approved a new labor contract, union president Ronald Salcedo said on Monday. Spence is one of the Anglo-Australian miner two mines in Chile. The other, Escondida, the world' largest copper mine, earlier this month... 

Escondida union to copper investors: bet on quick wage deal

By: Bloomberg     8th June 2018 The world’s largest copper mine probably will avoid a repeat of last year’s prolonged strike as the two sides reign in expectations, according to a union leader. The main union at Escondida in Chile presented its demands to owner BHP Billiton on Friday, and the company has until the weekend to... 

BHP Escondida mine workers in Chile start new wage talks

By: Reuters     2nd June 2018 The union of workers at BHP's Escondida copper mine in Chile said on Friday it had kicked off the latest round of labor negotiations with a contract proposal that includes a bonus of about $34,000 per worker at the world's largest copper mine. The closely-watched talks come little more than one... 

Southern has copper giants in the crosshairs with Peru expansion

By: Bloomberg     1st June 2018 Southern Copper is preparing to scale the ranking of global producers by spending more than $10-billion in Peru and Mexico, taking advantage of rising prices underpinned by years of industry belt-tightening. The fifth-largest copper producer hopes to start work on its Tia Maria project in Peru... 

Nutrien auctions remaining shares in lithium miner SQM for nearly $1bn

By: Reuters     1st June 2018 Canadian fertiliser company Nutrien auctioned its remaining stake in Chile lithium miner SQM on Friday for nearly $1-billion, the last step in meeting regulatory commitments after the company was formed in January by the merger of Agrium and Potash Corp of Saskatchewan. The nearly 20.17-million... 

Codelco retains CEO Nelson Pizarro at helm of world's top copper producer

By: Reuters     1st June 2018 Chile's Codelco, the world's top copper producer, said on Thursday its board of directors asked CEO Nelson Pizarro to stay at the helm and move forward with an ambitious, ten-year overhaul of its sprawling but aging mines. The board made the decision to retain Pizarro in its first meeting since... 

The 5 most exciting commodity markets in Latin America in 2018

29th May 2018 Excitement around lithium is booming at the moment with the future of electric vehicles nearly upon us. Lithium is the key element used in lithium-ion batteries, usually found in mobile phones and laptops. However while a laptop battery needs 30g of lithium, an electric car needs at least 10kg,... 

Copper king pushes gender diversity – with an all-male board

By: Bloomberg     28th May 2018 As it battles to remain the world’s biggest copper producer, Codelco just achieved a new, less enviable mantle – the only major mining company with an all-male board and senior management team. On Friday, Chilean President Sebastian Pinera tapped executive Juan Benavides to be chairman of the... 

Chile's Pinera taps businessman Benavides as Codelco chair

By: Reuters     25th May 2018 Chilean President Sebastian Pinera named Juan Benavides, a former CEO of Chile retail leader Falabella, as chairperson of the board of directors at Codelco, the world's top copper producer, the government said on Friday. Benavides was currently serving as chairman at Chilean private pension fund... 

Chile's Codelco posts first quarter pre-tax profit of $537m

By: Reuters     25th May 2018 Chilean state copper company Codelco reported on Friday first quarter pre-tax profits of $537-million, a slight increase over the previous year, even as ore grades continued to decline at the miner's aging deposits. The world´s top copper miner produced 446 300 t of copper in the first quarter,... 

In lithium hot spot, ghost towns recall another boom gone bust

By: Bloomberg     25th May 2018 Chile knows what it is to be expendable. Ghost towns that pepper the nation’s north are a painful reminder of a time when it was replaced almost overnight as the world’s top fertiliser producer. These days, the decaying buildings and rusty plants serve as a harbinger for miners embarking on a... 

Chile high court declines to weigh in on lithium spat at Maricunga

By: Reuters     24th May 2018 Chile's constitutional court said it would not get involved in a dispute between a foreign-backed miner and state-run copper miner Codelco over adjoining lithium deposits in the Maricunga salt flat, according to a court document seen by Reuters on Wednesday. Salar Blanco, 50%-owned by... 

Titan raises A$11m for Mirador acquisition

By: Esmarie Swanepoel     22nd May 2018 Peru-focused explorer Titan Minerals has raised A$11-million through a share placement to fund the acquisition of the Mirador copper and gold plant, and to fund exploration and development at its Torrecillas and San Santiago gold projects. The share placement, which was priced at 3c a share,... 

Join the conversation about the future of Latin American Mining at Mining Cumbre

17th May 2018 Latin America is an exciting, growing destination for mining investment, development and exploration projects. With an attractive mining environment and geology rich with natural resources, the region is one of the world’s largest producers of iron ore, copper and gold. The LatAm Mining Cumbre is... 

Private firm takes on Codelco for control of Chile lithium deposit

By: Reuters     15th May 2018 A foreign-backed miner has sued Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, according to a lawsuit filed in March that will be carefully watched by potential investors being courted by the country's new government. The little-known and remote... 

Chile copper output up 18.9% in first quarter 2018 – Cochilco

By: Reuters     9th May 2018 Chile's copper production increased 18.9% in the first quarter of 2018 from the same period a year earlier, Chilean copper commission Cochilco said on Tuesday. Production this year was boosted by a low basis for comparison following an historic strike last year at BHP's Escondida copper mine, the... 

Private firm takes on Codelco for control of Chile lithium deposit

By: Reuters     9th May 2018 A foreign-backed miner has sued Chile to block State-run Codelco from exploiting a lithium deposit where both have claims, according to a lawsuit filed in March that will be carefully watched by potential investors being courted by the country's new government. The little-known and remote... 

Chile copper mine Escondida says no early wage agreement reached

By: Reuters     26th April 2018 Chile's Escondida, the world's largest copper mine, said on Thursday that early contract talks with its workers' union ended without an agreement, setting the stage for legally scheduled negotiations to begin in June. The union representing workers at the mine, which is controlled by BHP told... 

Union at BHP's Escondida copper mine in Chile says no advance deal likely

By: Reuters     25th April 2018 The union of workers at BHP's Escondida copper mine, in Chile, the world's largest, told Reuters on Tuesday it had made little progress on an early contract deal with management, making it "highly likely" that no agreement would be struck before official talks begin in June. The union accepted... 

Chile's Copec to buy stake in copper project in Peru

By: Reuters     24th April 2018 Chilean industrial conglomerate Empresas Copec said on Monday it had reached an agreement with Peru's Minsur to buy a 40% stake in a holding company that owns a Peruvian copper mine project for $168.5-million. Minsur will retain 60% ownership in Cumbres Andinas, the company that controls the... 

Banchile auctions 1.5m shares in Chile's SQM, raises $76m

By: Reuters     21st April 2018 Brokerage firm Banchile on Friday auctioned 1.5-million series-A shares in Chile lithium miner SQM at a sale price of 30 000 pesos ($50.36) per share, raising a total of $76-million. SQM, which operates primarily in Chile's Salar de Atacama, is one of the world's largest and most cost-efficient... 

Cochilco forecasts Chile's 2018 copper output up 4.3%

By: Reuters     21st April 2018 Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76-million tonnes of the red metal in 2018, up 4.3% from 2017, while estimating copper prices at $3.06 per pound this year. The projections follow a difficult year for the world's top copper producer in 2017, after... 

Companies reach shaft sinking milestones

20th April 2018 Multinational mining company Turquoise Hill Resources’ Oyu Tolgoi copper/gold mine in Mongolia, has achieved significant underground development milestones with the completed sinking of two shafts this year. The Oyu Tolgoi, one of the world’s largest new copper/gold mines, is located in the South... 

Relations sour at giant copper pit with automation looming

By: Bloomberg     19th April 2018 Just as labour tensions ease at BHP Billiton’s giant Escondida mine, the copper industry has another iconic mine to worry about. Relations between the world’s largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years as the mine transitions... 

After setbacks, Anglo American counting on turnaround for Minas-Rio mine

By: Reuters     17th April 2018 Two leaks in a month, a 90-day outage and $58-million in fines is not enough to temper Anglo American's ambition for its long-delayed, multi-billion dollar Minas-Rio iron-ore mine in Brazil. Purchased at the height of the commodities boom a decade ago for $5.5-billion, Anglo American was once... 

Gold Fields to make decision on Chile gold mine next year

By: Reuters     12th April 2018 South African miner Gold Fields will complete preparatory work in 2019 at its Salares Norte project, in northern Chile, and is eyeing potential output of around 345 000 oz/y of gold at the site by the early 2020s, a company executive said. Gold Fields will decide whether to give the go-ahead for... 

Metso sees South American revenue rising as mining rebounds

By: Reuters     12th April 2018 Mining equipment maker Metso Oyj expects to increase its revenue in South America excluding Brazil by 15% to 20% a year over the next two to three years as higher metals prices spur mining activity, a company executive told Reuters. Eduardo Nilo, VP of Metso's operations in South America,... 

Miners urge new Chile government to give exploration a boost

By: Reuters     12th April 2018 Copper mining industry leaders meeting in Santiago this week called on Chile's month-old government to open up exploration or risk losing investment as companies hunt elsewhere for new projects. Chile produces around a third of the world's copper, making it by far the biggest exporter of the... 

Aurubis eyes smelting deals with miners in Americas, Australia

By: Reuters     12th April 2018 Aurubis, Europe's biggest copper smelter, is in talks with miners in South America, the US and Australia to set up smelting partnerships, as it pushes ahead with ambitious growth plans, its CEO told Reuters. Armed with a war chest of at least $1.5-billion for potential acquisitions, CEO Juergen... 

Ecuador may eliminate windfall mining tax this – minister

By: Reuters     12th April 2018 Ecuador could remove a hotly debated windfall tax on the mining sector this year, its mining minister told Reuters on Wednesday, as the cash-strapped South American country seeks to boost foreign investment and diversify away from oil. The tax, which went into effect in 2009 under former leftist... 

Komatsu sales growth to slow as miners avoid new equipment buys

By: Reuters     12th April 2018 Japanese machine maker Komatsu expects revenue growth from mining to slow as a surge in demand for equipment maintenance fades while miners remain wary of large new investments, an executive at the company said on Wednesday. Miners were forced to curb spending by a collapse in commodities prices... 

LME to suspend Rusal's aluminium from approved brand list

By: Reuters     11th April 2018 The London Metal Exchange will suspend Rusal's aluminium from its list of approved brands from April 17 after some members raised concerns about settling LME contracts with sanctioned companies, the exchange's chief executive told Reuters. Last week the US Treasury Department imposed sanctions... 

Collahuasi says to slash costs to under $1/lb in 2018

By: Reuters     11th April 2018 Chilean miner Collahuasi said on Tuesday it expected to slash production costs to under $1/lb of copper this year as it boosts output and uses efficiency measures to optimise operations. Collahuasi, owned by Anglo American and Glencore, is a copper mine located in northern Chile and is among the... 

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