South America snapshot: Eight companies advancing assets

Despite a lacklustre day for the sector – North America's big three Potashcorp, Agrium and Mosaic all suffered losses – two Brazil focused potash mine developers attracted strong investor interest on Friday.

Friday's complication is just the latest setback for Vancouver-based Baja which has now lost almost 70% of its value this year.

In what it seems to be the first casualty of the heated conflict between diversified miner Anglo American (LON:ALL) and its Chilean adversary Codelco, the world’s largest copper producer announced its CEO Diego Hernandez resigned late Thursday.

Xstrata Plc (LON:XTA), the fourth largest copper producer in the world, said it is analyzing political risks in Argentina, where the company has two major copper projects on the go with an estimated investment of $5.5 billion.

The world's top copper producer, Chile's Codelco, said on Wednesday its output fell 10 percent in the first quarter from a year earlier to 373,000 tonnes, but said it was on target to produce 1.708 million tonnes this year.

With a total investment of $406 million, Canadian based mining exploration company Tahoe Resources (NYSE:TAHO), through its subsidiary Minera San Rafael SA, could become one of the largest silver producers in the world thanks to its El Escobal project in southeastern Guatemala, approximately 70 kilometres from Guatemala City.

World number two gold producer, Newmont Mining Corp. (NYSE:NEM), will spend $440 million on the controversial Conga mine project in Peru over the next 18 months, about two-thirds less than the $1.5 billion initially budgeted.

After dreary drilling results last year, Canadian junior miner Endeavour Silver (TSX: EXK), announced exploration drilling at the San Sebastian property in Mexico has discovered a new high grade silver-gold mineralized zone in the Terronera vein.

The frantic legal battle between diversified miner Anglo American (LON:ALL) and its Chilean adversary Codelco, the world’s largest copper producer, was put on hold as the parties announced they were entering into talks.