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Latin America News Digest
Friday 16 February 2018
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New gemstones mining and marketing company is stepping up efforts to kick off operations at some of its key assets and help organize what it calls "a highly disorganized and fragmented industry."

With the acquisition of two hydroelectric plants, the miner expects to eliminate about 70% of future power purchases.

Artisanal and Small-Scale Mining (ASM) has become a major of revenue for millions of people in about 80 countries worldwide, with more than 100 million people currently depending on the activity for their livelihoods. But at what costs?

The firm, North America's No.1 producer of coking coal, said the boost in profit was mainly thanks to the reversal of an impairment charge related to an improvement in the outlook for steelmaking commodity.

President's move to allow open pit mining in provinces until now opposed to it is part of a broader plan to double foreign investment to $25 billion in eight years.

Charge is due to due to cuts in the US Federal corporate income tax rate, the world's biggest mining company said.

Andes Iron appealed an August 2017 decision that forbade its copper and iron ore project from going forward.

Without changing the way it operates, the Canadian miner now wants to set foot in the world's second lithium producing country.

Eighteen people have been killed in Venezuela at an illegal gold mine following clashes with security forces.

$429 million impairment on the stalled project after Chile environment agency ordered final closure.

Australasian Centre for Corporate Responsibility says it needs 100 shareholders to co-file resolution at Rio's upcoming annual general meeting.

The Canadian company is set to invest $120 million to conduct underground gold mining for the first time in Guyana's history.

Rio's renewed interest in SQM is welcome by the Chilean government, which had expressed concerns about a potential and dangerous concentration in the market should major lithium producers, such as China's Tianqi, acquire the 32% interest in SQM.

They also claim miner offloaded the asset to avoid paying for environmental damage caused by an accident at its floating dock, which killed six people and dragged vehicles, equipment and large amounts of iron ore into the Amazon River.

Consulting firm Deloitte has published what it says will be the top-10 global trends in the mining industry this year.

Anglo American's Minas Rio iron ore mine in Minas Gerais state has nameplate capacity of 26.5m tonnes per year.

The company's Cascabel project is located in the northern portion of the Andean copper belt in Ecuador, renowned for hosting almost half the world's copper known reserves.

The company beat expectations on Thursday with a 5% increase in 2017 production.

Receiving the necessary licences would allow the company to continue operating in the state of Minas Gerais, where the iron ore mine is located, for at least another 15 years.

Chile-focused miner also expects costs to rise on tailings dam expenditure.

Proceeds from the private placement and financing will be used for exploration and development of the junior miner's projects in Colombia and Nicaragua.

Agreement includes Russia's state nuclear agency Rosatom commitment to build a nuclear power station in the South American country.

An estimated 40.5 million people were directly engaged in ASM last year, up from 30 million in 2014, 13 million in 1999 and only 6 million in 1993.

Tahoe Resources (TSX, NYSE:THO) is denying a media report issued on Thursday that its Shahuindo mine in Peru has contaminated local water supplies. 

The attack occurred late on Monday in northern La Guajira province where the open-pit coal mine is located.

Chile is an obvious place for Tesla's chief executive, Elon Musk, to look for secure supply, as the global lithium mother-lode is in the brine lakes of the country's Atacama desert.

Chile's economy is poised to improve by mid-year as rebounding copper prices and President-elect Sebastian Pinera's promise of business-friendly policies increase optimism among investors.

Analysts had forecast a $419 million net profit for the company in the fourth quarter.

The largest union at Cerrejon has reached an 11th-hour salary and benefits deal with the company, avoiding a strike, the union said on Thursday.

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