Iron ore prices help Rio Tinto fork out $1bn dividend, despite Oyu Tolgoi setback

The mining boom that Colombia is experiencing has driven a group of Australian firms to visit the South American country and explore what the country has to offer in terms of mining for foreign investors.

Toronto-listed Scorpio Mining (TSX: SPM) reported quarterly silver production at its Nuestra Señora mine in Mexico fell 10%, driven by lower head grades.

Precious metals miner Fresnillo (LON:FRES), the largest silver producer, reported its first-quarter silver production was in line with expectations, while it said higher-than-expected gold output, owing to the start up of its new Noche Buena mine.

The team of three international environmental consultants hired by Peru’s government has recommended significant changes to Newmont’s hindered $4.8 billion copper-gold project, the Conga mine. But the government is saying its final decision won’t be determined solely by this or any study.

The International Monetary Fund increased its outlook for the world's economy on Tuesday, saying it expects global GDP to expand by 3.5 per cent this year.

The long-awaited and twice-postponed report from international experts on the environmental impact study (EIS) for Newmont and Buenaventura’s US$4.8 billion copper-gold project, the Conga mine, is finally in the Peruvian government’s hands.

Chile’s state-owned mining company Codelco, the world’s largest copper producer, reports normal operations following an early morning earthquake northeast of the port city of Valparaiso and which registered 6.7 on the Richter scale.

Canadian Prime Minister Stephen Harper and Chilean President Sebastian Piñera signed yesterday an agreement to upgrade the free trade deal between their two nations, which will benefit several miners with presence or planning to explore in the South American country.

A protest against Newmont Mining's proposed Conga copper-gold mine shut down much of Peru's Cajamarca region last Wednesday, reported World War 4 Report.