Southern Copper says Peru operations normal despite strike

Hecla Mining reported the largest resource calculation in company history today with 148 million ounces of silver reserves and 281 million ounces of resources. The silver numbers represented a 4% increase in reserves and a 13% bump in resources. Hecla also noted a 33% increase in gold resources to 597,600 ounces, while lead and zinc increased a respective 21% and 26%.

Canadian gold producer Agnico-Eagle Mines reported a $604 million loss in the fourth quarter after writing down its Meadowbank mine in Nunavut, northern Canada.

Barrick Gold Corp. (TSX:ABX), the world’s biggest gold miner, announced that profit slipped in the fourth quarter as the company booked US$153-million in various after-tax charges tied to redundant power assets and its investment portfolio.

Kinross Gold (TSX:K) lost $2.78 billion in the fourth quarter, having been forced to writedown the value of its Tasiast project in Africa.

Goldcorp reported fourth quarter gold production of 687,900 ounces at a total cash cost of $261 per ounce, leading to record revenues of $1.5 billion and operating cash flows before working capital changes of $831 million. 

Rising costs could make any interested buyer baulk at the idea though. Cash costs in South Africa at its Ezulweni mine has rocketed to $2,143/oz and were up 20% at Mine Waste Solutions although at $613/oz there you could still turn a profit .

Gold mining in Colombia is shining bright as major gold players are expected to invest U.S. $ 2,100 million by 2015, reports local newspaper La Republica.

Peru’s long-running Conga mine dispute moved slightly forward on Tuesday after the government appointed foreign engineers to oversee an independent review of Newmont Mining Corp.'s stalled $4.8 billion gold project, reports La Republica.

Brazillian miner Vale SA said Tuesday it is gradually resuming mining at its underground nickel operations in Sudbury, Canada.