Antofagasta plc has received approval from its board of directors for development of its Antucoya heap-leach copper project in Chile’s Antofagasta region for an estimated $1.3 billion.

Guyana Goldfields reported in mid-November 2011 it signed a mineral agreement with and received a mining license from the government of Guyana for its 100%-owned Aurora gold project, located about 170 km west of Georgetown, the capital of Guyana.

Mercator Minerals has reported the results of an optimized feasibility study that confirms development potential for what it terms a robust, large-scale, low-cost copper mine at its El Pilar project in Sonora, Mexico.

Proven and probable mineral reserves at El Pilar total 230.2 million mt grading 0.313% total copper and containing 1.6 billion lb of copper. The feasibility study outlines a 12-year mine life at an average production of 73 million lb/y of copper cathode, including an average of 78.7 million lb/y during the first five years. Processing of surface-mined ore would be by copper leaching and solvent extraction/electrowinning (SX/EW).

Xstrata Copper, Goldcorp and Yamana Gold announced in early September 2011 they have reached a definitive agreement providing Mineral Alumbrera the exclusive option to acquire Yamana’s 100% interest in the feasibility-stage Agua Rica copper-gold project. Minera Alumbrera is a joint venture between Xstrata Copper (manager and 50% owner), Goldcorp (37.5% owner), and Yamana (12.5% owner) that operates the Alumbrera mine in Catamarca province, Argentina. The Agua Rica project is located 35 km from the Alumbrera mine.

HudBay Minerals has sold 100% of its 98.2% interest in the Fenix ferronickel project in eastern Guatemala to the Solway Group. HudBay received $140 million in cash at closing in early September 2011 and will receive an additional $30 million upon satisfaction of certain conditions during the course of Solway’s development of the project.