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CENTRAL SOUTH AMERICA

CARE AND MAINTENANCE

New Gold suspends ops at Amapari, considers options

Saturday , 03 Jan 2009
New Gold Inc, which was created last year from the merger of New Gold, Metallica Resources and Peak Gold, has suspended operations at its Amapari gold mine in Brazil

OPTIONS ON OPTION

Enami cedes $3.5 bn Anglo American copper option rights to Codelco

Saturday , 20 Dec 2008
Chile's Enami has ceded its rights to purchase up to a 49 percent stake in Anglo American's Sur properties, which include the Los Bronces and El Soldado mines and the Chagres smelter, to Codelco.

ALL EXPANSION PROJECTS UNDER REVISION

Penoles may delay big zinc refinery planned expansion

Tuesday , 16 Dec 2008
Mexico top miner Penoles' chief financial officer said the company had been considering expanding the 230,000-tonne-capacity refinery in Mexico to 340,000 tonnes but market conditions have forced it to reconsider.

ENDEAVOUR ROLE SPARKS CONTROVERSY

Rusoro Mining launches hostile bid for Gold Reserve's Las Brisas project

Tuesday , 16 Dec 2008
After its courtship overtures were rejected by Gold Reserve, Rusoro Mining has launched a hostile takeover bid for Gold Reserve for its Las Brisas project and a larger presence in Venezuela's Km88 Mining District.

$70M ALL-SHARE TRANSACTION

Eldorado completes São Bento gold mine sale to AngloGold Ashanti

Tuesday , 16 Dec 2008
Eldorado Gold is expected to use the $70 million in AngloGold Ashanti shares it gains from the São Bento gold mine sale to help complete the Efemçukuru gold project.

PROJECT DOWNSHIFT

High cost of borrowing will dent M&A - Vale

Monday , 15 Dec 2008
Vale's Finance Director reckons the current cost of borrowing will diminish the appetite for M&A deals.

SHARPENING FOCUS

Poor market conditions lead to two more Peruvian gold prospects being abandoned

Monday , 15 Dec 2008
Junior explorer, Strait Gold, has terminated options on two gold projects citing market conditions and disappointing exploration results

UNION OFFICIALS ARRESTED

Strike halts world's largest silver mine and two zinc mines

Friday , 05 Dec 2008
Striking workers have halted production at the world's biggest silver mine and two major zinc mines in Mexico.

‘ADJUSTMENT ‘ IN NICKEL OPERATIONS

Vale Inco wields axe on Canadian nickel ops

Friday , 05 Dec 2008
The world's largest iron ore miner is continuing to cut global budgets with Wednesday's focus on taking the budget axe to Vale Inco Canadian mines and projects.

LOS PELAMBRES MINE LIFE CAN BE EXTENDED

Antofagasta completes crucial, but controversial, copper mine tailings dam

Friday , 05 Dec 2008
Chile's Antofagasta Minerals has completed construction of a $600 million tailings dam at its Los Pelambres copper mine, allowing it to extend the mine's life.

BRAZIL VULNERABLE ON TWO FRONTS

World No. 1 iron ore miner laying off 1,300 workers – 5,500 more on paid leave

Thursday , 04 Dec 2008
Weakening demand for its iron ore and the credit crisis has forced top global iron ore miner Vale to lay off workers and put others on paid leave.

STILL WAITING ON APPROVAL

Crystallex cites treaty breach in dispute letter filed over Las Cristinas gold mine

Saturday , 29 Nov 2008
Crystallex says a decision to deny it a mining permit combined with media reports that Venezuela plans to push Crystallex off the Las Cristinas project, constitute a dispute under an investment treaty between Canada and Venezuela.

LOW GRADES AND LOW PRICES

BHP delays big Escondida moly process plant plans

Friday , 28 Nov 2008
Because of the fall in molybdenum prices, BHP has decided to delay building of a $120 million moly processing plant at its huge Escondida copper mine in Chile.

MUCH LESS ROSY PICTURE

Bleak medium to long term for steel and iron ore

Wednesday , 26 Nov 2008
Projections suggest zero growth in steel manufacture through to 2012 with corresponding adverse impact on the iron ore mining sector.

NEW LEGISLATION

Protest generating Peruvian mining royalty distribution law signed

Wednesday , 26 Nov 2008
A mining royalty distribution plan which generated serious unrest in the southern Peruvian province of Tacna has now been signed into law by President Alan Garcia.

ANALYSIS

Chavez political allies win Venezuelan vote, but opposition scores some gains

Monday , 24 Nov 2008
Sunday's regional Venezuelan elections outcome may help President Hugo Chavez gain even more political strengths, despite some crucial seats captured by his opponents.

2009 WILL BE CRITICAL

Future iron ore contracts may be linked to OTC prices

Monday , 24 Nov 2008
The lack of a sophisticated iron ore futures market limits miners' and steelmakers' access to modern hedging instruments used by major companies that utilize commodities traded on futures exchanges.

WITHDRAWING FROM PETAQUILLA

Teck to sell assets to drive down debt

Friday , 21 Nov 2008
Teck will sell assets to drive down debt, withdraw from Petaquilla copper project in Panama, and suspend dividend payments.

TARGET SHARE PRICE CUT 46%

Haywood concerned on Crystallex’s increased Las Cristinas gold project risks

Thursday , 20 Nov 2008
“Increased risk associated with a project in an already risky situation” has prompted Haywood Securities to cut its target for Crystallex shares by 46%.

CRITICAL TO ELECTRIC CAR BATTERIES

Morales government invests $5.7m in Bolivian lithium pilot plant

Wednesday , 19 Nov 2008
The future of the electric car could depend on the lithium production generated from what is said to be the world’s largest lithium reserve in Bolivia’s Salar de Uyuni. The government is to fund a state-owned pilot project.

REACTION IN CHINESE DEMAND SEEN

Top miner Vale says metals prices are stabilizing

Friday , 14 Nov 2008
Vale's financial director says that there are already good indicators of metals price stabilization but it is as yet unclear if improvements seen to date are sustainable.

EXPLORATION DELAYS

Bulk of $57 billion of mining investment in Brazil still on track

Friday , 14 Nov 2008
Brazil's mining institute reckons that the approximately $57 billion of investment in Brazilian mining planned for the next few years is still largely on schedule but could be some delays, but exploration is suffering.

STRAP HEADLINE: TAKING STEPS TO PROTECT RIGHTS

No further word on Crystallex's Las Cristinas gold project as company continues to fulfill obligations

Friday , 14 Nov 2008
Crystallex still waits for the final word on the possible expropriation of Crystallex as Venezuela enters yet another round of elections on November 23.

500-PERSON WORKFORCE REDUCTION

PanAm Silver says physical silver investment market remains strong

Friday , 14 Nov 2008
Pan American Silver President and CEO Geoff Burns predicted that the common investors buying physical gold and silver during the current global financial crisis "will be handsomely rewarded for their foresight."

CASHFLOW WILL BE ENHANCED

Mining temporarily suspended at Mexico's Piedras Verdes copper mine

Wednesday , 12 Nov 2008
Low copper prices have caused Frontera Copper to suspend mining operations at its flagship Piedras Verdes mine, although leaching operations will be continued.

END OF REFLATION OR JUST A HEADFAKE?

Losers & bigger losers - Surveying the Latin American mining carnage

Tuesday , 11 Nov 2008
Christopher Ecclestone’s latest analysis of the effects of falling metals prices on the mining sectors and economies of the major Latin American nations.

WINDFALL TAX, SERVICE CONTRACTS

Ecuador's President Correa will send mining bill to Congresillo Wednesday

Tuesday , 11 Nov 2008
Ecuador’s Congresillo will receive new mining law legislation aimed at finally lifting a ban on mining and exploration in the country from President Rafael Correa on Wednesday.

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