Workers at Teck Resources’ Chile mine to go on strike

The company is sticking to plans to spend $680 million this year including ramping up production at its Noche Buena mine. The firm has five operating mines and this year forecasts 41 million ounces of silver produced and 460,000 ounces of gold.

Barrick announced last week  a 50-60% cost blow-out for the copper-gold-silver  project straddling the Chile–Argentina border which could end up with a final bill of as much as $8 billion with $3 billion already spent.

World number one iron ore producer Vale over the weekend "played down fears" that the planned $20 billion expansion of its Carajas mine would harm the local Awá people described as "Earth’s most threatened tribe."

"I believe the recovery will happen soon," José Carlos Martins, the Brazilian miner's director of iron ore and strategy, said during a conference call discussing the firm's second quarter results, adding that a modest recovery in China will boost prices.

Baja Mining dropped by almost a third on Friday after announcing class action proceedings seeking $260 million in damages for misrepresenting the true state of affairs at its Boleo project in Mexcio since 2010. It is now worth a paltry $18.7 million on the Toronto big board. During the heady days of 2007 Baja Mining was valued at $836 million.

The board of Codelco has authorized its chief executive, Thomas Keller, to go ahead with feasibility studies to turn its subsidiary Gabriela Mistral into a new business division.

The global miner joined the ‘disappointing results club’ this morning as the London-listed mining group reported that its first-half operating profit dropped almost 40%.

Newmont Mining's (NEM) second quarter earnings plunged 28% compared to the same period last year on reduced gold and copper output.

Silver Wheaton will be paying less than $4 an ounce to take the precious metal of Barrick's hands.