CENTRAL SOUTH AMERICA

CENTRAL SOUTH AMERICA
PLAGUED BY LEGAL PROBLEMS
Antofagasta's Los Pelambres copper mine to appeal tailings dam order
Monday , 27 Aug 2007
Chile's Los Pelambres copper mine is to appeal a court order to cease work on a major tailings dam project after environmental objections.
DEATH TOLL EXCEEDS 500
Peru's deadliest earthquake in 35 years spares mining sector
Friday , 17 Aug 2007
Peru’s deadliest earthquake in more than three decades, a magnitude-8 tremor which hit Wednesday, apparently hasn’t directly harmed its mining sector.
PUSHING AHEAD WITH GROWTH PROJECTS
Gold Fields looks to the future with Cerro Corona, South Deep
Tuesday , 14 Aug 2007
The next six months could lead to a greater presence in Peru and a pre-feasibility study for South Deep.
RATING UPPED TO SECTOR OUTPERFORM
Frontera successfully makes transition to copper production
Tuesday , 14 Aug 2007
With its top management of former Phelps Dodge executives, Frontera Copper has rapidly managed to outperform its peers in making the transition from explorer to producer, according to Haywood Securities.
CHAVEZ MAY BE REVIEWING PROJECT
Crystallex's Las Cristinas gold project permitting delays may be debated by National Assembly
Tuesday , 14 Aug 2007
Fed up with government delays in the issuing of the final permit for the Las Cristinas project, the Venezuelan National Assembly may debate the matter.
$32.48M 1H07 NET INCOME
Hecla reports lowest silver cash costs ever, continued record revenue
Thursday , 09 Aug 2007
Things are going so well for Hecla Mining operations that the company revised its 2007 silver guidance downward to negative 25-cents per ounce, as the Green's Creek JV hit negative $4.04/oz.
MORE THAN 1MT/Y
Collahuasi copper mine output to double
Friday , 03 Aug 2007
Xstrata plans to more than double production at the big Collahuasi copper mine in Chile it owns in a joint venture with Anglo American.
POWER SUPPLY CHALLENGES
CVRD on track with record nickel and iron ore production
Thursday , 02 Aug 2007
As CVRD reported record 2Q results, CEO Roger Agnelli is concerned about the mining industry’s ability to meet its power and other logistical needs.
STOPPAGES MAY BE DECLARED ILLEGAL
Giant Cananea copper mine shut down by strike
Tuesday , 31 Jul 2007
Grupo Mexico's Cananea in Northern Mexico, one of the world's largest copper mines, has been shut down by a strike as have two smaller operations.
NO END IN SIGHT
Codelco copper strike situation update
Monday , 30 Jul 2007
A Reuters roundup of the latest labour disruption situation at Chile's state-owned Codelco's copper operations.
BUENAVENTURA PROFIT DECLINES 90%
Yanacocha's 2Q gold production decline shocks analysts despite warnings
Tuesday , 31 Jul 2007
Despite Newmont’s prior warnings, analysts were still taken aback by Buenaventura’s 90% decline in net profit, the bulk of which rests squarely on Latin America’s largest gold mine, Yanacocha.
2Q PROFIT FALLS 90 PERCENT
Huge fall in Yanacocha gold output hits Buenaventura
Monday , 30 Jul 2007
Compania de Minas Buenaventura SA has reported second-quarter net earnings of $14.5 million, down from the $139.8 million a year ago. The main cause being a 60 percent fall in output from the Yanacocha gold mine in which Newmont holds 51.35 percent.
HIGH PRICES = LABOUR UNREST
Copper, gold, platinum, diamonds, nickel. Labour disputes hamper production
Saturday , 28 Jul 2007
Labour problems in the mining sector continue to materialise around the world. High commodity prices may be to blame.
MOST SERIOUS ACTION YET
Codelco copper strike reignites. El Teniente shut down
Friday , 27 Jul 2007
An escalation in violence associated with the ongoing strike by Codelco subcontractors' workers has led to the shutdown of the world's largest underground copper mine - El Teniente. Salvador remains closed too.
NEW ERA FOR BOLIVIAN STEEL?
Bolivian Congress asked to ratify record $2.1b iron ore deal
Wednesday , 25 Jul 2007
Bolivia’s Congress is reviewing a record $2.1 billion iron ore deal with India’s Jindal Steel, considered to be the beginning of a new era in Bolivian iron ore and steel production.
PLANT SURROUNDED
Strike grips copper giant Codelco's Salvador division
Wednesday , 18 Jul 2007
Continuing industrial strife in Chile has effectively shut down Codelco’s Salvador copper operations as subcontracted workers seek near parity with Codelco’s own unionised workers.
GOVERNMENT/MINE WORKERS TALKS CONTINUE
Bolivian police seize dynamite cache from striking mining cooperative members
Wednesday , 18 Jul 2007
As talks continue between the Bolivian Government and the Mining Workers Federation, National Police and soldiers are cracking down to prevent mining cooperative members from marching on La Paz to protest.
CODELCO STRIKE DRAGS ON
Workers back on the job at Chile’s Collahuasi copper mine
Tuesday , 17 Jul 2007
The world’s third largest copper producing mine is back to normal as workers ended a strike at Chile’s Collahuasi mine after getting a wage increase and bonus. However, Codelco contractor workers remain on strike.
COOPERATIVE TENSIONS
Bolivian tin miners to march on La Paz - again
Wednesday , 11 Jul 2007
The thousands of miners belonging to independent mining cooperatives in Bolivia are again threatening to march on the nation’s capital city due to long-standing conflicts with state-miner Comibol over one of the world’s rich tin mines.
MORE VIOLENCE ERUPTS, SHUT DOWN ORDERED
Chilean copper strikes broaden as Collahuasi miners walk out boosting LME prices
Tuesday , 10 Jul 2007
As Codelco strike-related violence continued on Monday, miners at Xstrata and Anglo America’s Collahuasi copper miner also walked off the job, sending copper prices to three month highs.
INNOCENCE PROCLAIMED
Drummond Coal alleged murder-for-hire suit begins in US court
Monday , 09 Jul 2007
A civil suit filed by unions and the victims’ families against U.S. coal company Drummond--accusing the miner’s Columbian subsidiary of war crimes by allegedly paying right-wing militias to kill three union organizers--is scheduled to begin today in an Alabama federal court.
LIMITED IMPACT ON PRODUCTION
Codelco copper strike goes on, although workers say talks positive
Thursday , 05 Jul 2007
Codelco’s subcontracted workers, currently on strike, say that action continues, but say that negotiations with management are making progress.
CONOCOPHILLIPS WILL MEET GOALS
Venezuela’s seizure of Orinoco oil projects part of international expropriation trend
Thursday , 28 Jun 2007
While analysts fear Venezuelan oil exports to the U.S. could decline, the seizure of foreign-owned oil projects in one of the world’s largest oil deposits in Venezuela is part of a larger international expropriation trend.
MINE LIFE TO BE INCREASED TO 2020
Xstrata Copper board approves $70m expansion of Chile’s Lomas Bayas mine
Wednesday , 27 Jun 2007
Xstrata Copper’s Board of Directors has approved a $70 million expansion for the Lomas Bayas copper mine in Chile’s Antofagasta Region. Development will begin in 2010 with producing commencing in 2011.
ALL CODELCO CHILEAN DIVISIONS IMPACTED
As contract workers strike at world’s largest copper miner, violence erupts
Tuesday , 26 Jun 2007
The largest strike in recent memory to hit Codelco, the world’s biggest copper miner, turned violent Monday as masked protestors burned buses and destroyed company property at the company’s El Teniente Division in Chile.
MAY IMPACT FOREIGN EXPLORATION
Ecuador to submit tough mining law reform bill to Congress
Monday , 25 Jun 2007
An official of Ecuador’s Ministry of Energy and Mines said a substantial mining law reform bill--which will limit exploration concessions, impose stricter environmental controls, and require royalties—will be submitted to the nation’s Congress in a month.
CLINTON GIUSTRA SUSTAINABLE GROWTH INITIATIVE
Huge initiative for mining to alleviate Latin American poverty
Monday , 25 Jun 2007
Mexican telecom billionaire Carlos Slim Helu and Canadian mining mogul Frank Giustra have each pledged $100 million to help former President Bill Clinton fight global poverty through the Clinton Giustra Sustainable Growth Initiative.
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