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South America

Flash copper price squeeze helps upend global trade flows
Flash copper price squeeze helps upend global trade flows
22nd August 2024 By: Bloomberg

When copper surged toward a record high in New York in May, a ship was in the Pacific Ocean carrying a raw form of the metal from Chile to top buyer China. By the time the Ricarda arrived in... 


SQM keeps expanding into lithium glut but vows market review
SQM keeps expanding into lithium glut but vows market review
22nd August 2024 By: Bloomberg

The world’s No. 2 lithium producer SQM shipped record-high volume last quarter and vowed to keep growing production in Chile even as slumping prices prompt a review of “less attractive” markets.... 


Chilean court orders halt of union roadblocks at Caserones mine
22nd August 2024 By: Reuters

- A Chilean court ordered a striking union at the Caserones copper mine to stop blocking roads around the mine, according to a ruling released on Wednesday. Canada's Lundin Mining, which owns the... 


DRDGOLD CEO Niël Pretorius.
Big win for DRDGOLD is 60 MW solar farm as it repositions for future
21st August 2024 By: Martin Creamer

The big win for surface gold recovery company DRDGOLD is the 60 MW solar farm built at Ergo in the 12 months to June 30. “I call it a R3-billion prepaid electricity facility that will take care of... 


Shipping delays dent Atico's second-quarter revenue, income
21st August 2024 By: Creamer Media Reporter

TSX-V-listed Atico Mining Corporation has posted a net loss of $400 000 for the second quarter of this year, compared with income of $100 000 in the second quarter of 2023, on the back of lower... 


Iron-ore stockpiles
Iron-ore rises for third day on China policy support optimism
21st August 2024 By: Bloomberg

Iron-ore rose for a third day — recovering more of its 9% plunge last week — on signs Chinese authorities will take more steps to try and revive the country’s moribund property market. The... 


The Antamina copper mine
Peru's copper output this year likely to fall short of 3Mt goal, SNMPE says
21st August 2024 By: Reuters

Peru will likely produce between 2.7-million and 2.8-million metric tons of copper this year, the head of a major mining group told Reuters on Tuesday, with estimated output falling below the... 


SQM's operations in Chile
Chile's SQM posts 63% slump in profit, expects weak lithium prices to stay
21st August 2024 By: Reuters

Chile's SQM, the world's second-largest lithium producer, reported a bigger-than-expected 63.2% slide in its quarterly profit on Wednesday due to weak prices of the battery metal, which it expects... 


Australia’s Unico secures final piece of regional consolidation
20th August 2024 By: Mariaan Webb

Australia-listed Unico Silver has announced a letter of intent to buy two Chile projects from NYSE-listed Pan American Silver in an acquisition that MD Todd Williams says will elevate the company... 


Cape Town Archbishop and Renewal Programme Patron Thabo Makgoba.
Mining companies need mechanisms to solve conflicts, Marikana memorial hears
20th August 2024 By: Martin Creamer

Mining companies need mechanisms to solve conflicts by reaching consensus with stakeholders on dealing with grievances and disputes, former Minerals Council South Africa VP and current Transnet... 


Menar MD Vuslat Bayoglu.
Menar envisages reviving Metalloys smelter, selling beneficiated manganese to world
20th August 2024 By: Martin Creamer

Menar, which recently signed a deal to acquire Samancor’s Metalloys, envisages reviving the ferromanganese smelting complex and exporting  beneficiated manganese to the world. “It’s an exciting... 


Iron-ore stockpiles in Australia
Iron-ore to extend rout as it’s ‘different this time,’ Citi says
20th August 2024 By: Bloomberg

Iron-ore is poised to extend declines into the $80/t range as China’s steelmakers reduce production, according to Citigroup Inc., which pared price forecasts and said that market dynamics have... 


Gold bars are worth a million dollars for the first time
Gold bars are worth a million dollars for the first time
20th August 2024 By: Bloomberg

For the first time ever, a bar of gold is worth a cool one million dollars. The milestone was reached Friday, when the precious metal’s spot price surpassed $2 500 per troy ounce, an all-time... 


Barrick Gold CEO Mark Bristow
Barrick Gold on way to becoming major copper producer
19th August 2024 By: Martin Creamer

In less than six years, at the end of the decade, 2030, Barrick will have grown its gold output by 30% and will be a copper miner up there with some of the biggest. It goes to the upper 400 000... 


Physical buyers win battle for copper market as funds retreat
Physical buyers win battle for copper market as funds retreat
19th August 2024 By: Reuters

Investors fleeing the copper market are likely to be sidelined for many months, leaving the field clear for physical players who expect demand in top consumer China and elsewhere to deteriorate... 


Ganfeng takes stake in Lithium Argentina project
Ganfeng takes stake in Lithium Argentina project
19th August 2024 By: Creamer Media Reporter

China’s Ganfeng has purchased a $70-million stake in Proyecto Pastos Grandes from TSX- and NYSE-listed Lithium Americas (Argentina). This investment equates to a 14.9% ownership stake in the... 


Union at BHP's Escondida copper mine in Chile signs new deal, ending risk of strike
19th August 2024 By: Reuters

The union at Chile's Escondida copper mine, the world's largest, signed a deal on Sunday with BHP, ending a strike that could have threatened global supplies of the red metal. The three-year deal... 


Nedbank CIB Head of Infrastructure, Energy and Telecommunications Mike Peo.
Major shift to green energy under way by mining houses across Africa – Nedbank CIB
16th August 2024 By: Martin Creamer

Virtually every mining house in South Africa is in the process of procuring green electrons, and similar advances are taking place across the African continent, from the Democratic Republic of... 


Captial CE Peter Stokes
Capital’s interim revenue up 9.8% y/y
15th August 2024 By: Darren Parker

Mining services company Capital has announced first-half revenue of $169.4-million, marking a 9.8% increase from $154.3-million in the 2023 interim period. The company's full-year revenue guidance... 


copper abstract periodic table
More investment in copper production outside of China needed
15th August 2024 By: Darren Parker

Copper demand is expected to rise by 75% to 56-million tonnes by 2050, necessitating substantial investment, a new report by data analytics firm Wood Mackenzie shows. The firm says that, as major... 


Exxaro CEO Dr Nombasa Tsengwa.
Exxaro expecting interest rates to begin to lower during the remainder of this year
15th August 2024 By: Martin Creamer

Johannesburg-listed coal and energy company Exxaro is expecting the Federal Reserve, the European Central Bank, the Bank of England and the South African Reserve Bank, among others, to start... 


China slashes steel output as industry sounds alarm on demand
China slashes steel output as industry sounds alarm on demand
15th August 2024 By: Bloomberg

Chinese steelmakers slashed output last month as woeful demand forced steep cuts on an industry contending with a collapse in margins. Steel production in July plunged about 9% on both the month... 


Striking BHP miners reject new talks as Escondida standoff hardens
Striking BHP miners reject new talks as Escondida standoff hardens
15th August 2024 By: Reuters

A striking union at BHP's huge Escondida copper mine in Chile has rejected a company request to pause its action and come back to the negotiation table, with workers digging in as they seek a... 


Chris Gale and Dale Henderson
Pilbara Minerals diversifies with Brazil lithium project buy
15th August 2024 By: Mariaan Webb

Australia’s Pilbara Minerals on Thursday announced the acquisition of fellow ASX-listed Latin Resources. The all-share deal will deliver Pilbara its second, 100%-owned tier-one, hard-rock lithium... 


Exxaro CEO Nombasa Tsengwa.
Exxaro declares interim dividend on higher revenue, lower profit
15th August 2024 By: Martin Creamer

Mining and renewable energy company Exxaro Resources has declared an interim dividend in reporting its interim results for the six months to June 30. Half-year revenue of the Johannesburg Stock... 


Dawie Roodt
Be prepared for new economic future as biggest Electra Mining Africa show approaches
14th August 2024 By: Martin Creamer

South Africa’s preparation for a brand new economic future is coinciding with the biggest ever Electra Mining Africa show, which takes place in Johannesburg, from September 2-6. Five interconnected... 


Gold approaches record high with focus on US inflation data
Gold approaches record high with focus on US inflation data
14th August 2024 By: Bloomberg

Gold edged up to near a record, as investors awaited key inflation data that could prompt the Federal Reserve to cut interest rates next month. Bullion reached as high as $2 478.61 an ounce –... 


Illegal mining soars near First Quantum's idled Panama mine
Illegal mining soars near First Quantum's idled Panama mine
14th August 2024 By: Bloomberg

Illegal mining near First Quantum Minerals' Cobre Panama copper mine has soared since the facility suspended operations last year, an industry group warns. More than 250 instances of illegal... 


The Amazon rainforest
Germany, Italy import legally dubious Brazilian gold, study shows
14th August 2024 By: Reuters

All Brazilian gold imports by Germany and 71% by Italy come from areas of the Amazon where illegal mining is rampant, a think thank said on Tuesday, calling for increased European scrutiny. All 1.3... 


The Escondida copper mine
BHP removes striking workers at huge Chile copper mine, output at risk
14th August 2024 By: Reuters

Mining giant BHP said on Tuesday it had started removing workers on strike at its Escondida copper mine in Chile, deepening tensions at the site after a powerful union rejected the company's latest... 


Barrick CEO Mark Bristow
Africa delivers ‘usual reliable performance’ with steady output, lower costs – Barrick
13th August 2024 By: Martin Creamer

The Africa region delivered its “usual reliable performance” with steady production and well contained costs, Barrick CEO Dr Mark Bristow reported this week when it maintained its quarterly... 


Pandora CEO says diamond market faces disruption in next decade
Pandora CEO says diamond market faces disruption in next decade
13th August 2024 By: Bloomberg

Pandora A/S’s chief executive officer expects it will take less than ten years before consumers buy more lab-grown diamonds than mined stones because they increasingly weigh up costs and climate... 


Strike action at Lundin’s Caserones mine
Strike action at Lundin’s Caserones mine
13th August 2024 By: Creamer Media Reporter

TSX-listed Lundin Mining has announced that one of the three unions representing about 30% of the workforce at the Caserones mine, in Chile, has initiated strike action. This follows a period of... 


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