OceanaGold walks away from exploration projects in Argentina

Shares in Canada’s Bear Creek Mining Corporation bounced by over 4% at the open on Wednesday after the company announced it was launching legal action against the Peruvian government to regain its license for a mining concession in the south of the country. Peru cancelled Bear Creek’s licence in late June after protests against the Santa Ana Silver project resulted in five people being killed by police at an international airport 160km away from the site. Bear Creek’s injunction comes weeks ahead of the swearing in of the South American nation’s new leftwing president Ollanta Humala (pictured).

Northgate Minerals announced on Wednesday that it will acquire Primero Mining for $370 million. The new company, which will have a combined market capitalization of approximately $1.2 billion, will be a mid-tier gold producer and will tie together the San Dimas mine in Mexico; the Fosterville and Stawell gold mines in Australia; and the Young-Davidson gold development project in Ontario.

Fluor Corp said on Wednesday it won a contract from Quadra FNX Mining Ltd for work on its new Sierra Gorda copper and molybdenum project in Chile. Fluor said it booked $1 billion for the project in the Atacama Desert in the second quarter, and its work will include providing engineering, production and construction management services for the mine's processing plant.

Federal authorities have shut down 12 mines in northern Mexico after inspections spurred by an accident last month that claimed the lives of 14 workers, the labor department said. Inspectors have already visited 41 of the 100 sites on their list, the department said in a statement.

Precious metals miner Fresnillo plans to double output at its newly opened Saucito mine in central Mexico by 2015 or 2016 in a second phase of expansion, a company executive said on Tuesday. With the project and other expansion plans, Fresnillo is looking to overtake BHP Billiton, which produces more silver as a by-product from other metals, as the world's biggest overall silver producer. The company's eponymous mine is the world's largest primary silver mine which has been in near continuous operation since 1550.

Atlas Copco has received an order from the Mexican mining group Peñoles. Valued at about $67 million, it is one of the largest underground mining equipment contracts ever for Atlas Copco, and the company's second large order in Mexico this year.

Shares in Vancouver-based Great Panther Silver recovered early losses to trade in positive territory by midday Tuesday after the company reported disappointing silver output at its two 100%-owned silver and gold mines in Mexico. The counter opened down more than 3% before turning positive after announcing a 6% drop in silver production as a result of falling grades and unsold inventories at its Guanajuato operation which the company ascribes to an oversupply of concentrate on the world market. Silver Panther is still up 35% over the month after investors picked up the stock following record first quarter earnings.

Stillwater Mining, the only platinum and palladium producer in the U.S., announced on Monday that it will acquire Peregrine Metals for US$487.1 million. Peregrine Metals is a publicly-traded exploration and development company with gold and copper projects in Argentina and Peru. The company is listed on the Toronto Stock Exchange.

The world's largest copper producer is shut down in a 24-hour strike that has the potential to cause severe losses for Chile's state mining company. Codelco says it could lose $41 million from today's strike