Rio2 advancing Fenix gold mine

Canadian-based Rio2 Limited is making strides at its Fenix gold mine in the Maricunga Gold Belt of the Atacama region of Chile. Pre-construction activities first commenced in 2022, prior to the Environmental Impact Assessment (EIA) for the project being rejected by the Chilean environmental regulators. Those activities included ordering and securing of long lead items for the construction of the…

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Summit Minerals to acquire Mundo Novo

Australian-headquartered Summit Minerals has confirmed it has inked a binding letter of intent to acquire the Mundo Novo niobium-rare earth-phosphate project in Brazil. The deal is pending due diligence approvals as well as a greenlight from company shareholders. The former is expected to be completed within the next 60 days. “This investment is driven by strong long-term demand linked to…

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Rio Tinto investing big in Rincon

Rio Tinto has approved an earmark of $2.5 billion to expand the capacity of its Rincon lithium project in Argentina to 60,000 tonnes per year. Rincon is the company’s first commercial-scale lithium operation; that capacity is comprised of the 3,000-tonne starter plant and 57,000-tonne expansion plant. Rincon’s mine life is expected to be 40 years, with construction of the expanded…

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Vale restarts operations at Capanema

Photo: Léo Lopes Vale has begun commissioning its Capanema project, located 80 kilometers from Belo Horizonte in Minas Gerais, Brazil. Part of its Marianna complex, the project is set to strengthen the miner’s iron ore production by 15 million tons annually. “We are resuming operations at the Capanema mine with safer, more efficient and sustainable practices. Capanema will produce sinter…

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Vale closes Brazil transaction with Anglo American

Vale announced it has fulfilled all conditions precedent in its partnership with Anglo American, where the company has acquired a 15% equity interest in Minas-Rai mine complex owner Anglo American Minério de Ferro Brasil. Considering the closing of the transaction, Anglo American will now own the Serra da Serpentina assets previously owned by Vale in Brazil. Under the terms of…

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Sierra Metals’ Yauricocha hits full capacity

Canadian-based Sierra Metals has reported that its Yauricocha underground mine in Peru has reached a full capacity throughput rate of 3,600 tonnes per day since the beginning of the fourth quarter.  “Since receiving operating and environmental permits to develop and mine below the 1120 level at Yauricocha earlier in 2024, the team has done a terrific job developing this new…

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Brazilian officers arrested for taking bribes from illegal miners

Two senior police officers were arrested in Brazil on suspicion that they took bribes and provided security for illegal gold mining activity in the Amazon, reported Reuters. Brazilian authorities suspect the two officers were receiving money to overlook and even provide private security for trading of gold illegally extracted from Indigenous lands and conservation areas, according to a court decision…

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Peru reextends temporary permit scheme

Peru’s Congress has passed an extension to a scheme allowing temporary permits to be given to small-scale informal miners, which allows them to continue working while seeking formalization, reported Reuters. Legislators moved forward a bill proposed earlier by the Energy and Mining Legislative Committee to extend for six months a registry called REINFO, which is set to expire on 31…

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