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South America News

Cash-flush Barrick Gold funding reintroduction of white rhinos to DRC national park 

By: Martin Creamer     4th May 2022 Gold mining company Barrick Gold, which has just reported an outstanding set of first quarter financial results, is funding the reintroduction of white rhinos to the Democratic Republic of Congo (DRC), where it mines at Kibali Gold Mine. Since agreement on the repatriation of revenue from Kibali... 

Barrick Gold Q1 profit beat estimates, doubles dividend

By: Reuters     4th May 2022 Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in... 

An image of Barrick CEO Mark Bristow
Barrick CEO Mark Bristow

Gramalote decision now expected by end of Q3, says B2Gold

By: Mariaan Webb     4th May 2022 The Gramalote gold project, in Antioquia, Colombia, continues to enjoy strong federal and local government support, as well as continuing support from local communities, Canada-based B2Gold said on Tuesday. The company owns Gramalote in a joint venture with AngloGold Ashanti, which last week was... 

Glencore's human rights record worst in green metals, group says

By: Bloomberg     4th May 2022 Glencore has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report. The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations.... 

Livent beats profit estimates, raises forecast on higher lithium demand

By: Reuters     4th May 2022 Livent on Tuesday posted a better-than-expected quarterly profit and bolstered its 2022 revenue forecast as it benefited from higher demand for lithium used in electric-vehicle batteries, sending its shares surging 14%. The Philadelphia-based company now expects annual revenue of $755-million to... 

Scramble to tap Latin America's lithium riches accelerates

By: Reuters     3rd May 2022  Mexican President Andres Manuel Lopez Obrador said during a regular news conference on Tuesday that he has been in touch with the leaders of Bolivia, Argentina and Chile to create a lithium association. Mexico's Congress last month passed a bill to nationalise lithium, tightening control of... 

Golden Minerals appoints Galassini COO

By: Creamer Media Reporter      3rd May 2022 Colorado-based gold and silver miner Golden Minerals has announced the appointment of John Galassini as COO, effective May 9. Galassin will be responsible for leading the company’s Mexican mining operations, including the operating Rodeo gold/silver mine and the Velardena Properties, which is... 

Chile rejects Anglo’s application to extend copper mine

By: Mariaan Webb     3rd May 2022 Diversified major Anglo American said on Tuesday that Environmental Assessment Service of Chile (SEA) had formally rejected the environmental permit application for its multi-million-dollar expansion plans at Los Bronces. The decision follows SEA’s earlier recommendation that the Los Bronces... 

An aerial view of the Los Bronces operation in Chile
An aerial view of the Los Bronces operation in Chile

South Africa would do well to highlight its key iridium status to world that needs this very rare metal  

By: Martin Creamer     3rd May 2022 South Africa would do well to highlight its key iridium supply status to gain the full confidence of a world that requires this very rare platinum group metal (PGM) to advance the fast-moving hydrogen economy. Iridium is a potent co-roleplayer with PGM stalwart platinum when it comes to... 

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SFA Oxford CEO Henk de Hoop interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

'Painful' protests reflect years of broken promises in Peru

By: Bloomberg     3rd May 2022 The head of Peru’s biggest mine says a swift solution to rising social unrest in the country is within reach if authorities and politicians agree to address the central problem: management of public funds. Peru, the world’s No. 2 copper and zinc supplier and a major producer of silver and gold,... 

An image of Victor Gobitz
Antamina CEO Victor Gobitz

Rich nations scramble to seal coal transition deals before COP27

By: Bloomberg     3rd May 2022 As they prepare for the next round of global climate talks in November, officials from rich countries are trying to pull together a series of multibillion-dollar packages to help poor countries phase out coal. But negotiations have been snarled by national politics and Russia’s war in Ukraine,... 

Truck transporting coal

South32 takes a bigger stake in Brazilian bauxite mine

By: Esmarie Iannucci     2nd May 2022 Diversified miner South32 has completed the acquisition of an additional 18.2% interest in the Mineração Rio do Norto (MRN) bauxite mine, in Brazil, from Alcoa Corporation, taking its stake in the project to 33%. “We are pleased to complete the acquisition of an additional interest in MRN,... 

South32 Graham Kerr
South32 Graham Kerr

Peru mine disruption to continue as MMG fails to oust protestors

By: Bloomberg     2nd May 2022 MMG is facing the possibility of a prolonged disruption at its copper mine in Peru after failing to clear the site of all protesters in an operation that has further inflamed tensions with indigenous groups. The Hong Kong-listed company’s security personnel teamed up with police this week in... 

Peru mine disruption to continue as MMG fails to oust protestors

 Codelco says it is optimistic about copper price for 2022

By: Reuters     29th April 2022 Chilean state-owned mining company Codelco is optimistic about copper prices for 2022 boosted by higher demand, its president Maximo Pacheco said on Friday during a press conference. Pacheco, who spoke after a meeting with shareholders and Finance Minister Mario Marcel and Mining Minister... 

Chile's March copper production falls 7.2%

By: Reuters     29th April 2022 Copper output in Chile, the world's largest producer of the metal, fell 7.2% year on year to 462,360 tonnes in March, the country's statistics agency INE said on Friday. The agency said that there was "less ore processing in important companies in the sector." The Chilean Copper Commission... 

World lacks time, not minerals for climate-saving technology

By: Bloomberg     29th April 2022 The world isn’t cutting greenhouse gas emissions with anything like the speed required to avoid the most dangerous effects of climate change, as the latest United Nations climate report published this month affirmed. Despite this, it’s become a trope of sorts to warn that we’re in danger of going... 

World lacks time, not minerals for climate-saving technology

Peru evictions enter second day at halted Las Bambas mine

By: Reuters     29th April 2022 Peruvian police evicted indigenous protesters from MMG's Las Bambas copper mine for a second day on Thursday, as they disperse a camp set up on company property, an adviser to the community told Reuters. The action at the Chinese-owned Las Bambas, which supplies 2% of the world's copper, follows... 

Mining giant Glencore is losing support for its climate plan

By: Bloomberg     29th April 2022 Shareholder support for Glencore Plc’s climate change strategy has weakened and the world’s top coal shipper will now have to consult with investors as it looks to defend one of its most profitable businesses. The company secured about 76% support for its climate progress report at its annual... 

Glencore guides higher full-year ferrochrome output with coal marking time 

By: Martin Creamer     28th April 2022 Diversified mining and marketing company Glencore is guiding 3% higher ferrochrome performance for the whole of this year, with no change to its coal production guidance. Full-year guidance for nickel is also up by the same three percentage points but full-year 2022 zinc guidance has been reduced... 

Picture supplied.
Gary Nagle

Yamana now eyes 350 000 oz/y at Jacobina; studies Cerro Moro plant expansion

By: Mariaan Webb     28th April 2022 The Phase 2 expansion of the Jacobina mine, in Brazil, is progressing ahead of schedule and is now expected to achieve its throughput objective one-year ahead of schedule, Canada-based Yamana Gold reported on Wednesday. The company stated that the expansion would reach its Phase 2 objective of 8... 

Yamana now eyes 350 000 oz/y at Jacobina; studies Cerro Moro plant expansion

Former Finance Minister Nene chair, Gomwe CEO of MC Mining

By: Martin Creamer     28th April 2022 The board of MC Mining has appointed former Finance Minister Nhlanhla Nene as chairperson and former Anglo Coal leading light Godfrey Gomwe as CEO of the London AIM-, Sydney ASX- and Johannesburg JSE-listed South African coal exploration, development, and mining company. The key projects of MC... 

Picture supplied.
Godfrey Gomwe, CEO of MC Mining

Vale unveils 'massive' buyback programme amid iron windfall 

By: Bloomberg     28th April 2022 Vale unveiled its biggest-ever share buyback program as the Brazilian iron ore and nickel giant rewards shareholders concerned by softening Chinese demand. The world’s No. 2 iron-ore producer said Wednesday it will purchase up to 500-million shares -- around 10% of the total number outstanding... 

Vale unveils 'massive' buyback programme amid iron windfall

Peru govt declares state of emergency near MMG’s Las Bambas mine

By: Reuters     28th April 2022 The Peruvian government on Wednesday declared a state of emergency near MMG's Las Bambas copper mine, where production has been halted for a week due to indigenous communities camped inside. A state of emergency suspends civil liberties such as the right to assembly and protest. Reuters reported... 

Vale first-quarter net profit falls 19.6%, but beats expectations

By: Reuters     28th April 2022 Brazilian miner Vale, one of the world's largest producers of iron ore, reported on Wednesday its first-quarter net profit fell 19.6% to a better than expected $4.45-billion as stronger pricing offset weaker production numbers. Vale earnings for the three months ended March 31 beat the mean... 

Latin Resources completes capital raise

By: Esmarie Iannucci     27th April 2022 ASX-listed Latin Resources has completed a A$35-million capital raise, cornerstoned by Canadian investor Electrification and Decarbonization AIE LP Fund. The company earlier this month announced plans to place 253.6-million shares, at a price of 16c each under its existing placement capacity.... 

First Quantum Minerals' profit more than doubles on higher prices

By: Reuters     27th April 2022 Toronto-listed miner First Quantum Minerals reported on Tuesday a 171% jump in its first-quarter profit, powered by higher copper prices from supply worries. Realized price of copper, a key metal used in wiring, electric vehicles and electronics, rose nearly 37% to $4.45 per pound in the... 

Commodity prices drive Teck's Q1 profit to record C$1.6bn

By: Mariaan Webb     27th April 2022 Canadian diversified major Teck Resources has reported an “exceptional” start to 2022, with record-setting first quarter financial results on the back of high commodities prices. The TSX- and NYSE-listed miner reported record adjusted profit of C$1.6-billion, or C$3.02 a share in the first... 

An image of Teck CEO Don Lindsay
Teck CEO Don Lindsay says the company has had an 'exceptional start' to 2022

Teck to earn into Chile copper project

By: Mariaan Webb     27th April 2022 Canadian miner Teck Resources has been granted options to earn up to a 75% interest in a copper project in Chile that is surrounded by major copper producers BHP and Codelco. Teck would earn into the Loreto project from Australia’s Golden Rim by spending $17-million on exploration and making... 

Teck to earn into Chile copper project

Commodities to stay elevated on Ukraine war, World Bank says

By: Bloomberg     27th April 2022 Food and energy price surges worsened by the Ukraine war could last through the end of 2024 due to disruptions in trade and production, the World Bank Group said Tuesday. Increase in energy prices, which has reached the largest since the 1973 oil crisis, is expected to pass 50% in 2022 before... 

Commodities to stay elevated on Ukraine war, World Bank says

SQM to invest $900 million as lithium capacity expands

By: Reuters     27th April 2022 Chile's SQM, the world's second-largest lithium producer, plans to invest $900-million this year as part of its plan to increase lithium carbonate and hydroxide production capacity, the head of its board said on Tuesday. In the next few months, the company expects to complete its original... 

China-owned Las Bambas mine weighs plan to evict protesting communities

By: Reuters     27th April 2022 Chinese-owned MMG's Las Bambas copper mine in Peru is considering a plan to evict indigenous communities that have camped on the property and forced a production halt, according to an executive and a document seen by Reuters. Under Peruvian civil law, property owners can attempt to evict... 

Petra Diamonds exploring responsible Koffiefontein exit 

By: Martin Creamer     26th April 2022 Diamond company Petra is exploring a responsible exit from its investment in the Koffiefontein diamond mining operations. The exit would be carried out together with its black economic empowerment partners Kago Diamonds and its Itumelang employee trust, the London Stock Exchange-listed company... 

Brazil's mining industry to invest $40.4bn through 2026, association says

By: Reuters     26th April 2022 Investments in Brazil's mining sector are expected to total $40.44 billion from 2022 to 2026, a drop when compared with the five years through 2025, leading industry association Ibram said on Tuesday. The amount forecast for the five-year period points to a nearly $900 million drop from... 

Brazil's mining industry to invest $40.4bn through 2026, association says

Wimbledon opts for platinum to mark Queen’s jubilee, centre court centenary 

By: Martin Creamer     26th April 2022 In the year of the Queen of England’s platinum jubilee, the coins to be used in the Wimbledon ladies’ and gentlemen’s singles finals coin toss will be made of platinum for the first time in the championships’ history. This follows last month’s unveiling by the UK Royal Mint of its largest ever... 

Image supplied by WPIC
Platinum coin to be tossed at Wimbledon.

South32 sticks to its production outlook

By: Esmarie Iannucci     26th April 2022 Diversified miner South32 has maintained its production guidance for 2022 following a strong March quarter, while operating cost expectations for its Australian and South African operations have increased, on the back of stronger producer currencies, higher raw material costs and an increase in... 

Prolonged Peru mine protest ends after dispatch of soldiers

By: Reuters     25th April 2022 Peru said on Friday a group of indigenous communities had lifted a protest against Southern Copper's Cuajone copper mine that had forced a suspension of production for more than 50 days. The government had declared a state of emergency in the region earlier in the week, sending soldiers to lift... 

Aton Resources now majority owned by Estonian investor

By: Marleny Arnoldi     25th April 2022 Gold and base metals project developer Aton Resources has closed a private placement of about 13.3-million common shares, raising proceeds of C$2-million. An existing major shareholder, OU Hektik, acquired 12.7-million of these shares, tripling its shareholding from six-million shares to... 

Barrick confirms mine water leakage at North Mara, no risk found so far

By: Marleny Arnoldi     25th April 2022 Global gold and copper miner Barrick Gold Corporation has advised of a water leak at its North Mara mine, in Tanzania, but says it has found no reason for concern to the community or aquatic biodiversity of a nearby river. The company explains that the mine has experienced an uncontrolled... 

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