jueves, 19 de abril de 2018

Copper supply crunch earlier than predicted — experts

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Latin America News Digest
Friday 20 April 2018
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Copper production will peak in the second half of 2019, making a growing supply deficit much more real.

It took authorities about three hours to be able to dig a back access entrance.

The Deputy Secretary of Mining Policy said the world needs Argentina's copper, lithium, gold and silver.

The world's top iron ore producer said that heavy rains in the first three months of the year impacted its output.

The Madre de Dios region has seen a surge in illegal mining operations.

The officials are accused of abuse of power in the case of the 2015 cyanide spill at Barrick Gold's Veladero mine.

Increasing disposable income in emerging economies and the adoption of greener technologies, are the two factors to drive most of the expected increased demand in copper during the next five years.

Los Mineros Union, led by expat in Vancouver Napoleón Gómez Urrutia, had been fighting since November 2017, to be the legally constituted union at the ELG Mine Complex.

The court accepted as valid arguments and evidence presented by community leaders who claimed that waste emissions from South32's Cerro Matoso nickel mine caused skin, lung and heart problems to people in the nearby towns.

Authorities may consider potential revisions to the mining laws in order to make companies that already own concessions to work on them or else give them up.

One of the main problems, says the head of Chile's Mining Society, Diego Hernández, is miners have no incentives to do anything with the assets they already own and is very cheap to keep them.

While appetite for copper-mining assets is picking up, a supply crunch is imminent, experts say.

"The church but the entire world is worried about the environmental degradation that unregulated mining activities are causing in the Bolívar and Amazonas states."

The miner is withdrawing from the World Coal Association over a clash of views on how to fight climate change, with BHP saying it'll reap little benefit from staying on as a member.

Company now owns 90% of Compañía Minera Teck Quebrada Blanca, which main asset is the namesake copper project in Northern Chile.

Cobalt, nickel still on the boil, but gloomier outlook reflected in copper price and fall in market value of top mining companies during first quarter.

Nelson Pizarro, who took the post in 2014, has played a critical role in the drive to reduce spending and force a reduction in costs, while kicking off a major overhaul of Codelco's aging mines to deal with dwindling ore grades.

French power company Engie SA is closing all of its coal-fired power plants in the country. It plans to replace the capacity with renewable energy.

Jujuy, Salta and Catamarca decided to join forces.

The company said its founder and chairman emeritus, Peter Munk, passed away Wednesday in Toronto, surrounded by his family.

Operations at La Coipa mine, located in in northern Chile, were halted in 2013, when the targeted orebody run out of riches.

The miner is working towards reactivating its Aranzazu and São Francisco gold projects in Mexico and Brazil, respectively.

Oz Minerals offers top dollar for Avanco which boasts top private equity players and Glencore as major shareholders.

The accident killed 19 people, left hundreds homeless and unemployed and caused sludge to wash downstream into the neighbouring state of Espírito Santo.

Lundin has been developing Fruta del Norte for over a year, following an agreement with Ecuador's government allowing the miner to move ahead with the gold project, the country's biggest.

Results from 11 of the 12 drilling rigs at its 85%-owned Cascabel copper-gold project, suggest there is much more intense mineralization in the property than thought earlier, the company said.

Some 200 litres of cyanide solution were released into the environment.

The Nicaragua-focused miner has not generated any revenue in the past two years, but narrowed pre-tax loss to £3 million in 2017 from £7.7 million a year earlier.

Company is growing its Virginia facility, which will cover over 251,000 square feet once completed.

Exclusive information obtained by Reuters reveals that Brazilian pension funds led by Previ are planning to sell 10 per cent to 12.5 per cent of their stakes in iron ore miner Vale SA (NYSE:VALE) through […]

Early output of 1,720 carats of emeralds, including 826 carats of top quality ones, was achieved through a bulk-sampling program carried out within eight weeks of the completing the acquisition of the mine

The Canadian miner says any contemplated amendments in a new mining code will not apply to Fekola without its consent.

The South American nation hopes to sign a deal with a foreign partner after a decade of state-led development left output far short of goals for the metal.

The government of new Peruvian President Martin Vizcarra said it would not "impose" mining projects on nearby communities that object to them.

They are seeking to obtain 30 more days to finish details of the plan.

"There is a legitimate concern on the side of the vehicle manufacturers."

Held every two years, Expomin will take place April 23-27, 2018 at the Espacio Riesco Convention Center in Santiago, Chile.

Minas-Rio is Anglo American's biggest development project, and its bet on the future of iron ore.

The company halted production and transport operations for 90 days at the Minas-Rio mine to comply with a request by authorities that it inspects a pipeline that has leaked twice.

Salares Norte production to begin around 2021 and quickly achieve target output of 345,000 ounces of gold a year.

The Responsible Mining Index, launched in Geneva on Wednesday, assesses the policies and practices of 30 large companies that produce 25 percent of mined commodities, from gold to copper and coal, operating in more than 40 countries.

Pro-mining votes seem set to benefit local companies and mining in streams and on mountainsides, not multinationals.

Once these projects are completed, Mantos Copper expects its production to nearly double to 165,000 tonnes annually.

Collahuasi, owned by Anglo American Plc and Glencore Plc, is located in northern Chile and is among the world's largest copper mines.

The bank is selling off gold to keep the country afloat, drawing down its reserves of the metal to $6.6 bn from almost $20 bn at the beginning of 2012.

Anglo American Plc is moving towards a multibillion-dollar decision on building the world's next major copper mine in Peru.

Relations between the world's largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years.

There are signs that the stalled $5 billion project could be reactivated.

Valcambi, the Swiss gold refiner, announced today that it is entering into a long-term supply agreement with the Minera Limata Limitada mining co-operative Concession AFC 12 (LIMATA AFC 12), a small-scale mine near Puno, South Peru.

The leak in the pipeline, which carries slurry to a port in Rio de Janeiro state, occurred on March 12 and forced the miner to suspend operations until March 27.

All that can be said with confidence is that, for the next few years, both supply and demand will grow strongly.

Healthy demand for molybdenum rich stainless steel, especially from the oil and gas industry, plus sluggish supply growth are expected to keep the price of this minor metal riding high.

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