Venezuela has its eye on becoming a major minerals producer, though its capacity to do so is in question, according to Maplecroft's principal Latin America analyst James Lockhart-Smith.
Brazil increased gold reserves for a third month in November to double the country’s holdings since August, reaching levels not seen since November 2000.
Brazilian miner Vale SA (NYSE:VALE) said Wednesday its fourth-quarter results would suffer after the company decided to settle a case of alleged tax evasion with Swiss authorities.