Hudbay Minerals (TSE:HBM) rang in the fourth quarter with a $34.3 million profit or 21 cents per share, compared to $7.9 million or seven cents a share at the end of 2010.
Indonesia will take more of the profits from its vast mineral resources by limiting foreign ownership of mines in a move likely to scare off new investment in the world's top exporter of thermal coal and tin.
Queensland base metal miner, Kagara Mining, said 130 of its staff were becoming redundant after the company posted an A$48.9 million loss in the first half of its financial year.
In Latin America the decade-long bull run for mining and hydrocarbons is mostly behind us, according to Jason Press, a regional specialist analyzing equities for Citigroup.
Chilean state giant Codelco, the world's biggest copper producer, plans to invest over US$4.3 billion this year, said the company’s president Diego Hernandez said on Tuesday
The mining sector's bellwether companies were all beaten down on Monday after China's premier Wen Jiabao delivered a downbeat outlook for the world's second largest economy adding that there were "new problems" to deal with.
Latin America remained the most popular exploration destination, attracting 25% of global explorations spending in 2011, said to the Halifax-based Metals Economics Group's World Exploration Trends report released on Sunday.
Glencore on Monday expressed surprise over health and environment officials in Zambia's decision to immediately close a Mopani copper operation over complaints from residents of a nearby town. The London-listed commodities giant is also set to appear before a British inquiry over tax avoidance in the developing world.
Ivan Glasenberg, CEO of Glencore International stands to receive dividends worth roughly $110 million on Monday when the commodities giant announces its maiden full-year payment to shareholders.
