Regional News - Latin America December 2017

Argonaut Acquires Cerro del Gallo Project in Mexico

Argonaut Gold has reached an agreement with Primero Mining Corp. to obtain the Cerro del Gallo (CDG) project through the purchase of all the shares of Primero’s subsidiary San Anton Resource Corp. for $15 million in cash, which is payable upon closing. Argonaut expects to be able to recover approximately $1.7 million of value-added tax, which reduces the total purchase price to $13.3 million. The company expects the transaction to close on or before November 30.

Read the Whole Article in Our Digital Edition



Operations Resume at Uchucchacua Mine in Peru

Compañia de Minas Buenaventura, Peru’s largest publicly traded precious metals mining company, reported that its Uchucchacua mine has resumed operations. A task force, “mesa de trabajo,” was established on November 3 by the Office of Social Affairs of the Ministry of Energy and Mines with the participation of other public offices, including representatives from the Prime Minister’s office, to end the conflict and resume negotiations with the Oyon community. It removed the roadblock, which was preventing Buenaventura’s team from entering the Uchucchacua mine site. Normal operations at Uchucchacua resumed on November 4.

Read the Whole Article in Our Digital Edition



Lundin Orders Long-lead Process Equipment for Fruta del Norte

Lundin Gold has announced that long-lead-time process plant equipment for its Fruta del Norte gold project in Ecuador has been ordered and that soft tunneling for mine development is well advanced. The long-lead-time grinding equipment package, including the SAG and ball mills, complete with motors, was awarded to Outotec Chile S.A. Outotec was also awarded the flotation and filtration packages. Orders for the remaining process plant equipment packages are expected to be awarded by year-end.

Read the Whole Article in Our Digital Edition


LSC to Acquire Mina Teresa in Argentina

LSC Lithium Corp., together with its subsidiaries, has entered into a binding letter of intent to purchase all shares of Alqa Lithium S.A., the sole owner of the Mina Teresa project covering 2,595 hectares in the Salar de Salinas Grandes in Argentina’s Jujuy Province, for $2 million payable in three installments. Closing of the acquisition is expected to take place around December 15, but no later than the end of 2017.

Read the Whole Article in Our Digital Edition


Production Commences at San Rafael

Americas Silver Corp. has initiated production at its San Rafael mine as the sole source of mill feed for the company’s Cosalá Operations in Sinaloa, Mexico. Initially, the company is targeting a throughput of 1,500 metric tons per day (mt/d). The mine is currently producing more than 1,000 mt/d as it continues its ramp-up. There is a stockpile in excess of 25,000 mt of San Rafael ore and a further 50,000 mt of Nuestra Señora ore at the mill, if required.

Read the Whole Article in Our Digital Edition

 

Regional News - Latin America November 2017

Escondida’s Copper Production Ramps Up

Minera Escondida has finally shaken off the effects of a labor strike that impacted production at the mine for 44 days between February and March. The mining company, which is owned by BHP, reported that copper production had increased by 23% to 268,000 tons during the third quarter of 2017.

Read more in our Digital Edition


Fortuna Starts Building Lindero Gold Project

Fortuna Silver Mines has started construction of its 100% owned Lindero gold project in Salta province, northwest Argentina. Gold recovered to doré will average 96,000 ounces per year (oz/y) over a mine life of 15 years, with peak production in the first two years of about 137,000 oz/y. All-in sustaining costs of production are estimated at $802/oz.

Read more in our Digital Edition


Tinka Explores for Zinc in Peru

The president of Canadian mining company Tinka Resources Ltd., Graham Carman, estimated that it will need about $20 million for its Ayawilca project in the next two years, the zinc-silver-lead-tin project located in the Peruvian department of Pasco. “We have a very interesting project, which is zinc, which is one of the biggest discoveries in Peru in several years,” Carman said.

Read more in our Digital Edition


Americas Silver Ships First Cons From San Rafael

Americas Silver Corp. announced that first processing of ore from its San Rafael project occurred in the last week of September from development stockpiles. The first lead and zinc concentrates produced from the company’s newly modified Los Braceros Mill have been shipped to the Port of Manzanillo from the Cosalá Operations in Sinaloa, Mexico.

Read more in our Digital Edition


Glencore Increases Stake in Volcan

After concluding an agreement with certain shareholders of Volcan Compañia Minera S.A.A., a Peruvian polymetallic miner, Glencore will acquire at least an additional 27% of the total class A common shares of Volcan for a total consideration of $531 million ($1.215/share). Glencore has been a shareholder in Volcan since 2004 and it currently holds 18% of the total class A common shares of Volcan and class B common shares reflecting an economic interest in Volcan of 7.68%.

Read more in our Digital Edition


ArcelorMittal Invests in Mexican Operations

ArcelorMittal announced a major $1 billion, three-year investment program for its Mexican operations, which is focused on building ArcelorMittal Mexico’s downstream capabilities, sustaining the competitiveness of its mining operations and modernizing its existing asset base. The program is designed to enable ArcelorMittal Mexico to meet the anticipated increased demand requirements from domestic customers, realize in full ArcelorMittal Mexico’s productive capacity of 5.3 million metric tons (mt) and significantly enhance the proportion of higher-value added products in its product mix.

Read more in our Digital Edition

 

Regional News - Latin America October 2017

Leagold Commences Development of Bermejal Underground

Leagold Mining Corp. recently completed the surface preparation and has commenced portal development for the 1,325-meter-long exploration ramp that will provide access to the high-grade mineralization of the Bermejal Underground deposit in Mexico. The portal is located in a carbonate formation on the north side of the mined-out portion of the open pit. The $13 million capital budget includes a total of 3,136 m of ramp and cross-cut development and two ventilation raises totaling 560 vertical m that will be developed using a raise bore. A spur at the 650-m point of the main ramp will provide access to a test mining area on the southeastern part of the Bermejal Underground deposit and the mineralized body will be intersected in middle of half-year 2018.

Read the Whole Article in our Digital Edition



Guatemalan Supreme Court Reinstates Escobal License

Tahoe Resources reported that the Guatemalan Supreme Court issued a decision that reinstates the Escobal mining license of Tahoe’s Guatemalan subsidiary, Minera San Rafael (MSR). This decision reverses the Supreme Court’s preliminary decision to suspend MSR’s license in connection with an action brought by the antimining organization, CALAS, against Guatemala’s Ministry of Energy and Mines (MEM). CALAS alleged that MEM violated the Xinca indigenous people’s right of consultation in advance of granting the Escobal mining license to MSR.

Read the Whole Article in our Digital Edition



Alamos Pours First Gold at La Yaqui

Alamos Gold reported in early September that construction of the first phase of its La Yaqui mine in Sonora, Mexico, was substantially complete, on budget and ahead of schedule, and that the project had poured its first gold. The first pour totaled 410 ounces (oz). Gold production rates are increasing with the stacking of the first lift of ore on the leach pad completed and placed under irrigation in August.

Read the Whole Article in our Digital Edition



Brio Gold Preparing to Restart Operations at Santa Luz Mine

Brio Gold has announced positive results from a feasibility study of its plans to restart operations at its Santa Luz mine in Bahia state, Brazil. Santa Luz is a fully constructed open-pit operation that was placed on care and maintenance in 2014 and is currently in development for recommissioning in the second quarter of 2018. Plant throughput capacity is planned at 2.7 million metric tons per year (mt/y). At average overall recoveries of 84%, Santa Luz is expected to produce approximately 100,000 ounces per year (oz/y) of gold over a mine life of 10 years.

Read the Whole Article in our Digital Edition



Fluor JV Granted Contract for BHP Spence Growth Project in Chile

On Monday, September 25, Fluor Corp. announced that its joint venture team was awarded an engineering, procurement and construction contract for BHP’s Spence Growth Option project at the Spence open-cut copper mine in northern Chile. The 50/50 joint venture with SalfaCorp is responsible for the delivery of the 95,000-ton-per-day copper concentrator and associated works. Fluor will book its share of the value in the third quarter of 2017.

Read the Whole Article in our Digital Edition

 

Regional News - Latin America September 2017

BHP Approves Investment to Expand Life of Spence Copper Mine

In mid-August, BHP approved a $2.46 billion Capex investment for the Spence Growth Option (SGO) at the Spence open-pit copper mine in northern Chile, which will extend the mine life by more than 50 years. Andrew Mackenzie, CEO, BHP, said the SGO project supports the company’s strategy to deliver near-term, valuable copper production.
In the first 10 years of operation, incremental production from SGO will be approximately 185,000 metric tons per year (mt/y) of payable copper in concentrate and 4,000 mt/y of payable molybdenum, with first production expected in the 2021 financial year.

Read the Whole Article in our Digital Edition


Hecla Secures San Sebastian Mill Through 2020

Hecla Mining announced it has reached an agreement that will allow it to lease the Velardeña mill, located near San Sebastian, for an additional 24 months. The exploration budget at San Sebastian has been increased by $1.1 million for additional drilling and will bring the 2017 exploration budget at the project to $5.3 million. Goals with this funding include identifying another sulphide zone at depth, similar to the previously discovered Hugh Zone, and discovering additional oxide ore. Strong intersections from a recently discovered zone on the East Francine Vein, including 0.72 ounces (oz) per ton (t) of gold and 288 oz/t of silver over 4.6 feet.

Read the Whole Article in our Digital Edition


Brazil Revises Policy on Renca

The Brazilian government will publish a new decree regulating the dissolution of the National Reserve of Copper and Associate Minerals (known by its Portuguese acronym Renca) to clarify country’s commitment to protecting the environment. It will regulate mineral exploration in areas with no protected areas, indigenous lands or border strips, and was published in an extra edition of Brazil’s Federal Official Gazette (the Diário Oficial da União, or DOU).

Read the Whole Article in our Digital Edition


Mine Life is Extended to 2028 at Iamgold’s Rosebel Gold Mine

Iamgold has reported an updated reserve estimate for its Rosebel gold mine in Suriname that will extend mine life to at least 2028. Attributable proven and probable reserves have increased 80% since the end of 2016 to 3.5 million ounces (oz), as of June 30.

Over the same period, Rosebel’s measured and indicated resources, inclusive of reserves, increased by 55% to 8.9 million oz, and its inferred resources increased by 322% to 2.5 million oz. Average reserve grade remains unchanged at 1 gram per metric ton of gold, but now includes dilution.

Read the Whole Article in our Digital Edition


Trek Planning Restart of Aurizona Gold Mine

Trek Mining has awarded the Engineering, Procurement, Construction and Management (EPCM) contract for redevelopment of its currently shuttered Aurizona mine in northeast Brazil to Ausenco Engineering Canada. Based on a recently completed feasibility study, the refurbished and upgraded Aurizona plant is planned to produce an average of 136,000 ounces per year (oz/y) of gold over a 6.5-year mine life, with year-end 2018 targeted for the first gold pour.

Read the Whole Article in our Digital Edition


Recent Changes to the Mining Framework in Brazil

By Affonso A. Barros da Cunha

In 2013, former Brazilian President Dilma Rousseff announced a bill that would deeply modify the Brazilian mining legal framework and revoke the much-outdated Mining Code of 1967. Despite this attempt to modernize the sector, Brazilian Congress did not take further steps and the issue remained untouched for years, barred by the turmoil of Rousseff’s impeachment and other scandals that paralyzed Congress and prevented it from voting on the bill.

Read the Whole Article in our Digital Edition

 

Resource Center Whitepapers, Videos, Case Studies