Rio Tinto has inked a joint venture agreement to progress development of one of the world’s largest undeveloped copper deposits, the La Granja copper project in Peru. Under the proposed transaction, First Quantum will acquire a 55% stake in the project for $105 million. It will also further invest up to $546 million into the JV for capital and operational…
Read MoreCategory: Latin America
First copper achieved at Teck’s QB2
Teck has taken another broad step forward toward commissioning and full production at its Quebrada Blanca Phase 2 project (QB2) in northern Chile – production of the mine’s first bulk copper concentrate. CEO Jonathan Price said, at full production, QB2 will double Teck’s copper production on a consolidated basis, as it is one of the world’s largest undeveloped resources of…
Read MoreLundin Mining buying 51% of JX’s Caserones
Canadian producer Lundin Mining confirmed it is acquiring a majority interest (51%) of JX Nippon Mining and Metals subsidiary SCM Minera Lumina Copper Chile, operator of the Caserones copper-molybdenum mine in the Atacama Region of Chile. The price tag on the deal is about $950 million, including $800 million in cash consideration and $150 million in deferred cash payable in…
Read MoreCerro Lindo back online after site flooding
Nexa Resources has resumed operations at the Cerro Lindo polymetallic operation in the Chavín District, Chincha Province, Peru, after recent heavy rains left the mine flooded. The Luxembourg-based miner said March 28 that road access has been restored, though some drainage systems are still being repaired. The plant is currently operating according to the company’s production plan, 17,000 tonnes per…
Read MoreFirst Majestic halts mining at Jerritt Canyon
First Majestic Silver is citing high costs and other challenges for the temporary suspension of operations at its Jerritt Canyon mine in Elko County, Nevada. Full story.
Read MoreCodelco’s El Teniente mine earns Copper Mark
Chile state-owned copper producer Codelco has received the highly sought-after Copper Mark sustainability certification for its El Teniente operation. A Reuters report said the news comes after Codelco confirmed last year it would seek the certification for all of its mines by the end of this year, with El Teniente, south of Santiago, being first. Chile’s largest global copper producer,…
Read MoreCerro Lindo ops suspended on rains, flooding
Luxembourg-based Nexa Resources has idled production at the Cerro Lindo polymetallic operation in the Chavín District, Chincha Province, Peru, due to heavy rainfall and overflowing rivers. The unusual weather conditions have been caused by Cyclone Yaku, which has been having an impact on the region as well as other parts of the country. At Cerro Lindo, the underground mine workings…
Read More‘Civil disturbance’ ended, workers return to El Bagre
Soma Gold’s El Bagre gold complex in Colombia is now back to operating after a “civil disturbance” caused its workforce to be unable to work safely. Officials said the civil disturbance had left roads leading to the site impassable. Its employees are now gradually returning to work, the company said, and its mining and milling operations will resume soon. The…
Read MoreArgentinian mining provinces commit to EITI
Multiple provinces in mining-rich Argentina are making good on a 2019 promise to mining transparency by officially committing to the Extractive Industries Transparency Initiative (EITI). EITI, per BNamericas, now includes Catamarca, Salta, San Juan and Santa Cruz in its ranks of more than 50 countries that are already members. Other Latin American members are Colombia, Ecuador, Guatemala, Honduras and Mexico,…
Read MoreProtests stop mining at Mineros’ Nechi
Latin American gold producer Mineros has confirmed the temporary suspension of operations at its Nechi alluvial property in the Bajo Cauca region due to ongoing protests. The miner said on 10 March that the protests have been active since 2 March and are being conducted by groups not associated with it. The disruptions are against measures being taken by the…
Read More