R/€ = 17.12 Change: -0.16
R/$ = 16.84 Change: -0.31
Au 1736.17 $/oz Change: -69.04
Pt 855.50 $/oz Change: -21.40

South America News

Maria Bitar appointed nonexecutive director of Gold Fields

By: Schalk Burger     21st April 2022 Gold producer Gold Fields has appointed Maria Cristina Bitar as a nonexecutive director with effect from May 1. She has 25 years of experience working as a consultant, specialising in public affairs, crisis management, communications and sustainability. She also has more than 12 years of board... 

Iron-ore edges up as world's biggest miners warn of supply risks

By: Reuters     21st April 2022 Dalian and Singapore iron-ore futures edged up on Thursday, after miner BHP Group flagged a continuing production weakness, but gains were capped by Covid-19 concerns and steel production controls in top steel producer China. The most-traded September iron ore on China's Dalian Commodity... 

China battery giant CATL wins lithium project in race for materials

By: Bloomberg     21st April 2022 Key Tesla battery supplier Contemporary Amperex Technology has won exploration rights to a lithium clay deposit in China, as surging demand for electric cars fuels a race to secure supplies of raw materials. CATL, as the company is better known, bid 865-million yuan ($135-million) for the... 

Mexican president urges energy, lithium firms to talk to government

By: Reuters     21st April 2022 Mexican President Andres Manuel Lopez Obrador on Wednesday urged companies to consult their lawyers and talk to the government following decisions in support of his efforts to tighten state control of Mexico's energy market and natural resources. Speaking at a regular government news... 

BHP adjusts copper and nickel expectations

By: Esmarie Iannucci     21st April 2022 Major BHP has lowered its full-year production expectations for its copper and nickel divisions, while warning of tight labour markers in Australia and Chile for the rest of the year. “BHP delivered safe and reliable production in the third quarter. Our Western Australian iron-ore business... 

Image shows BHP's Escondida operations at sunset

Silver demand to rise 5% this year – industry report

By: Creamer Media Reporter      20th April 2022 Global silver demand is forecast to rise by 5% this year on the back of structural advancements in industrial fabrication, which is expected to achieve another record in 2022. The 2022 demand growth forecast comes on top of an impressive 19% gain in 2021, when total demand reached 1.05-billion... 

President Ramaphosa to deliver keynote address at Mining Indaba 2022

By: Martin Creamer     20th April 2022 President Cyril Ramaphosa will deliver a keynote address at the 2022 Investing in African Mining Indaba, which takes place in Cape Town from May 9 to 12. The attendance of Ramaphosa, who will speak on Tuesday, May 10, signals the continued importance of mining to the South African economy as a... 

Picture supplied.
President Cyril Ramaphosa.

Cascabel ‘no ordinary mining asset’, says SolGold as it unveils PFS

By: Mariaan Webb     20th April 2022 Dual-listed SolGold on Wednesday published a prefeasibility study (PFS) for its Cascabel project, in Ecuador, outlining plans for a multi-decade, low-cost copper producer that could help establish Ecuador as the next copper frontier. Cascabel would produce an average of 132 000 t/y of copper,... 

An image of the project area around Cascabel in Ecuador
The Cascabel project area in Ecuador

Siemens Gamesa buffeted by rising costs as turbine launch problems deepen

By: Reuters     20th April 2022 Siemens Gamesa is discussing raising prices for its wind turbines by more than a high single-digit percentage in some cases as it grapples with stubbornly lofty raw materials prices, CE Jochen Eickholt said on Wednesday. "For specific materials … steel, copper, others, we continue to observe... 

Vale reports decrease in Q1 iron-ore output

By: Reuters     20th April 2022 Brazilian miner Vale first-quarter iron-ore production fell 6.0% from the previous year, hit by heavy rainfall in January in Minas Gerais state which curbed its main production. The company's iron-ore output was 63.9-million tonnes in the period, down 22.5% from the final quarter of 2021. 

Canada's Aura takes a dip in Big River

By: Esmarie Iannucci     20th April 2022 ASX-listed Big River Gold has received a 36c a share cash takeover offer from TSX-listed mid-tier gold and copper producer Aura Minerals. The takeover offer represented a premium of 33.3% to Big River’s last closing price, and a 44% premium to the company’s 90-day volume weighted average share... 

Rio's iron-ore production continues to fall

By: Esmarie Iannucci     20th April 2022 Diversified major Rio Tinto has reported another quarter of falling iron-ore production and shipments. The miner on Wednesday reported that iron-ore shipments from the Pilbara operations had reached 71.5-million tonnes, down 8% on the previous corresponding period, and down 15% on the previous... 

Image shows an iron-ore operation in the Pilbara

Mexico nationalises lithium, plans review of contracts

By: Reuters     19th April 2022  All contracts to mine lithium in Mexico will need to be reviewed, Mexican President Andres Manuel Lopez Obrador said Tuesday, as the country prepares to change its law. The comment comes after Mexico's lower house passed a change to the mining law to nationalize lithium production. "All... 

An image of President Andres Manuel Lopez Obrador
President Andres Manuel Lopez Obrador

Geopolitical support for hydrogen evolution positive for platinum group metals 

By: Martin Creamer     19th April 2022 The overall geopolitical situation is lending strong support to the hydrogen evolution, which in turn continues to drive the demand for platinum group metals (PGMs). Hydrogen Europe and the European Clean Hydrogen Alliance are now calculating that 2030 will see the generation of 320 GW to 400 GW... 

Picture supplied.
Heraeus Precious Metals Executive VP New Business Development Dr Philipp Walter

MMG's Las Bambas copper mine in Peru to suspend operations after protest

By: Reuters     19th April 2022 MMG said on Monday its Las Bambas copper mine in Peru will suspend operations from April 20 after residents of a community nearby entered the property as part of a protest. Las Bambas accounts for 2% of the global copper supply and is a subject of recurring disruptions from impoverished local... 

MMG's Las Bambas copper mine in Peru to suspend operations after protest

Serabi Gold lowers 2022 guidance

By: Mariaan Webb     19th April 2022 Brazil-focused Serabi Gold has lowered its 2022 guidance after continued supply chain issues and greater-than-expected dilution from the Julia Vein of the Sao Chico orebody resulted in delayed production. The Aim- and TSX-listed junior reduced its guidance to 30 000 oz, from 36 000 oz to 39 000... 

Luminex acquires Ecuador concessions from Codelco

By: Creamer Media Reporter      19th April 2022 TSX-V-listed Luminex Resources has signed a binding agreement with Codelco to buy its Chalapo concessions, in Ecuador, for $60 000 and a 1% net smelter return. “Chalapo is an early stage, undrilled high sulphidation epithermal gold/silver prospect that is an exciting addition to Luminex’... 

Mexican president sees 'treason' behind power bill defeat, businesses relieved

By: Reuters     19th April 2022 Mexico's President on Monday excoriated opposition lawmakers for voting down a major electricity reform, though business groups were cheered by Sunday's vote, which lifted some of the investor uncertainty clouding the country's energy market. President Andres Manuel Lopez Obrador decried the... 

Thugs storm Plomosas mine in Mexico

By: Esmarie Iannucci     19th April 2022 Base metal miner Consolidated Zinc has reported a security incident at its Plomosas zinc mine, in Mexico. The company on Tuesday reported that a group of armed intruders entered the Plomosas mine on Good Friday, taking the security guard and employees at Plomosas captive, and locking them in a... 

Anglo positioning itself as favoured iron-ore supplier to green steelmakers  

By: Martin Creamer     14th April 2022 Diversified mining company Anglo American is taking steps to position itself as a favoured iron-ore supplier to green steel producers. 

Creamer Media picture.
Anglo American sustainability presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Latin Resources to raise A$35m for Brazil aspirations

By: Esmarie Iannucci     14th April 2022 Minerals explorer Latin Resources will raise A$35-million in a share placement to accelerate work at its lithium project in Brazil. The company on Thursday announced plans to place some 253.6-million shares, at a price of 16c each under its existing placement capacity. One new option would also... 

Mexico president signs initiative to change mining law, eyeing power bill vote

By: Reuters     13th April 2022 Mexican President Andres Manuel Lopez Obrador said on Wednesday he had signed an initiative to change the country's mining law in case he needs to send it to Congress if lawmakers fail to pass separate legislation he is prioritising. Lopez Obrador said he will on Monday submit a mining bill to... 

Greater fuel cell adoption would be a massive boost for South Africa’s platinum group metals  

By: Martin Creamer     13th April 2022 The enactment by more governments of policies to enable greater hydrogen fuel cell mobility would be a massive boost for South Africa’s platinum group metals (PGMs) sector, Mining Weekly can today report. Adoption of hydrogen fuel cell mobility has already been significantly enabled by the German... 

Creamer Media picture
PGMs Industry Day webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Aris Gold becomes operator of Soto Norte, Colombia

By: Creamer Media Reporter      13th April 2022 Toronto-listed Aris Gold has closed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest. Soto Norte will produce more than 450 000 oz/y at an average all-in sustaining cost of $471/oz from a... 

Newmont takes full ownership of Yanacocha

By: Mariaan Webb     12th April 2022 Gold and copper producer Newmont on Tuesday announced that it would buy the remaining 5% of the Yanacocha mine from Sumitomo for $48-million, making the miner the exclusive owner-operator of the asset. This follows on the February announcement in which Newmont acquired Buenaventura’s 43.65%... 

Glencore, GM enter multi-year cobalt supply agreement 

By: Martin Creamer     12th April 2022 Diversified mining and marketing company Glencore and General Motors (GM) on Tuesday announced a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia. The agreement represents initial strategic collaboration between the two... 

Picture from Glencore website.
Photo by Glencore
The Murrin Murrin operation in Australia.

The near-500% rally in lithium is showing cracks in China

By: Bloomberg     12th April 2022 Lithium is showing signs of losing momentum -- at least in China -- after a powerful rally that carried prices to what Elon Musk called “insane levels”. Chinese lithium carbonate, which has gained almost 500% in the past year, slipped slightly on Monday after steadying in the past week,... 

Western Australia overtakes Nevada as top mining destination, Zimbabwe ranks last

By: Mariaan Webb     12th April 2022 Western Australia is now the number-one address for mining investments, according to the latest Fraser Institute’s Survey of Mining Companies. Western Australia has moved up from fourth place and has dethroned the US state of Nevada, which last year topped the rankings. The results of the latest... 

An image of mining headgear

Palladium set to rally for years on shortages, top miner says

By: Bloomberg     11th April 2022 Prices of palladium and rhodium are poised to rally for years as a supply squeeze tightens for the metals that are key to curbing vehicle emissions, said the head of the world’s third-largest producer of platinum group metals Prices of palladium and rhodium -- that are used in catalytic... 

Clients planning to close many renewable energy project deals this year – Nedbank CIB  

By: Martin Creamer     11th April 2022 While Africa is blessed with great natural sun and wind resources, it has about 600-million people living without access to electricity, which is one of the biggest impediments to the continent’s economic growth. Renewable energy is available to put an end to this impediment, as it can provide... 

Picture supplied
Nedbank CIB Group Managing Executive Anél Bosman interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Thor Explorations reaches steady state production at Segilola gold mine

By: Marleny Arnoldi     11th April 2022 TSX-listed Thor Explorations’ operations at the Segilola gold mine, in Nigeria, performed in line with forecasts for the first quarter of this year and remains on track to meet full-year guidance of between 80 000 oz and 100 000 oz. A throughput of 221 920 t with an average head grade of 3.18... 

Mexico president flags mining law change, eyeing possible defeat on power bill

By: Reuters     11th April 2022 Mexican President Andres Manuel Lopez Obrador on Friday said he would seek to change mining law to secure the country's lithium for the nation if his constitutional reform to boost state control of the power market fails to pass Congress next week. The president had earmarked lithium as part of... 

Hydrogen economy ‘incredibly exciting opportunity’, says Minerals Council’s Baxter 

By: Martin Creamer     8th April 2022 Mobility in mining is perfectly suited to kickstarting the domestic hydrogen adoption process, according to Minerals Council South Africa CEO Roger Baxter, who drew attention during the PGMs Industry Day conference to several mining companies that had already played a leadership role in the... 

Picture supplied.
Minerals Council South Africa CEO Roger Baxter.

Investors urge Rio Tinto to cut indirect emissions

By: Reuters     8th April 2022 Rio Tinto on Friday said climate change was at the heart of its new strategy, as shareholders at its first in-person annual general meeting (AGM) in two years in London demanded the miner set clear targets to cut indirect emissions. Rio Tinto recorded its best ever annual profit in 2021 and gave... 

Automated mining vehicles at Rio Tinto's mines

Gatos Silver produces record quarterly production from CLG mine

By: Marleny Arnoldi     8th April 2022 NYSE- and TSX-listed Gatos Silver has produced a record 2.39-million silver ounces from its 70%-owned Cerro Los Gatos (GLC) mine, in Mexico, in the first quarter of the year. This marks a 58% increase compared with the first quarter of last year, which was impacted by a temporary shutdown for two... 

South32 prices $700m for Sierra Gorda settlement

By: Esmarie Iannucci     8th April 2022 Diversified miner South32 has priced $700-million on senior unsecured notes, due in 2032, to fund its acquisition of a 45% interest in the Sierra Gorda copper mine, in Chile. The company said on Friday that the notes will be offered to qualified institutional buyers inside of the US, and to... 

The Sierra Gorda mine

Expert backs BHP/Woodside deal

By: Esmarie Iannucci     8th April 2022 Oil and gas major Woodside on Friday released supporting information ahead of a shareholder vote on May 19 concerning the merger of major BHP’s oil and gas portfolio with Woodside. The two companies in November last year struck an agreement to combine their respective oil and gas portfolios... 

A photo of Woodside's Pluto LNG Plant 9

DEV Mineração restarts iron-ore shipments from Amapa

By: Creamer Media Reporter      8th April 2022 Mineral resources investment and development company Cadence Minerals reports that DEV Mineração has restarted the sale and shipment of its iron-ore stockpiles from the Amapa project, in Brazil. This shipment represents the first export of iron-ore since Cadence vested its equity interest (27%)... 

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