Yamana’s Peter Marrone on how gold companies can find value

Boardroom chairs are being shifted at two large diversified mining companies, Vancouver-based Teck Resources and Brazilian powerhouse Vale SA, the world's second largest miner. Teck announced yesterday that Marcia Smith, Vice President, Corporate Affairs, will replace Doug Horswell as Senior Vice President, Sustainability and External Affairs. Horswell, staging into retirement, will work half-time in the company's Zinc and Health program. Meanwhile, Vale announced that coming this Thursday, CEO Murilo Ferreira will submit to the Board of Directors a proposal for a new structure of the company's Executive Board. Among the changes, the most high-profile is the replacement of CFO Guilherme Cavalcanti with Tito Martins, who currently runs Vale’s base metals division.

Chilean Government urged state-owned copper producer Codelco and Anglo American Plc (AAL) to seek an out-of court resolution to a contractual dispute over the sale of a stake in Anglo’s mine and smelting assets in the country. Codelco's Chief Executive Officer Diego Hernandez sai today in a public event that while the company is prepared to negotiate with Anglo, the starting point of any discussions would be to recognize Codelco’s right to the full 49 percent stake.

TORONTO, Nov. 18, 2011 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) ("GGI" or "the Company") is pleased to announce today that it has signed a Mineral Agreement ("MA") with the Government of Guyana and has received the Mining License for the Aurora Gold Project, as previously promised through its Memorandum of Understanding ("MOU") agreement with the Guyanese Government (see press release dated October 5, 2011). This is the first large-scale mining license to be issued in the gold sector in Guyana since 1991.

TORONTO, Nov. 18, 2011 /CNW/ - Agnico-Eagle Mines Limited ("Agnico-Eagle") (NYSE & TSX: AEM) and Grayd Resource Corporation ("Grayd") (TSX-V: GYD & OTCQX: GYDRF) announced today that 91,228,900 common shares (the "Shares") of Grayd, representing approximately 94.77% of the outstanding Shares on a fully-diluted basis, have been validly deposited pursuant to the offer (the "Offer") made by Agnico-Eagle to acquire all of the issued and outstanding Shares. All conditions of the Offer have been satisfied and the Offer has now expired and will not be extended. Agnico-Eagle has taken up all deposited Shares and will pay for such deposited Shares not later thanNovember 23, 2011.

Global miner Anglo American has risked its future in the world's largest copper producing nation by denying Chile's state-owned Codelco a 49 percent stake in its Sur unit, said Diego Hernandez, Codelco's chief executive on Thursday. Miguel Angel Durán, president of Anglo American’s Chilean operations, told a Chilean newspaper that the company wants to sit down with Codelco, the Chilean state mining company, and find a way to avoid years of litigation over Anglo’s Chilean assets. The copper giant is putting together a crack team of lawyers and financial advisers from Chile and New York to fight Anglo’s attempt to block it from exercising an option to buy half of Anglo’s Chilean copper assets for $6 billion. Anglo early in November sold 24.5% to Mitsubishi for $5.4 billion.

Shares in Jaguar Mining (NYSE:JAG) surged 46% today on news that a Chinese gold producer is bidding $1 billion for the Brazil-focused company. The Globe and Mail reports that Shandong Gold is offering $9.30 per share in cash, which is a 73% premium to Jaguar's closing price Tuesday on the NYSE. The shares were changing hands at around $7.89 Wednesday afternoon in New York.

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras" or the "Company") is pleased to report that exploration drilling from the surface at Promontorio mine (Figure 1: http://diabras.com/files/media/a20ec_figure1.pdf) combined with underground channel and bulk samples from drifting in the Promontorio mine continue to identify wide zones of disseminated silver mineralization, confirming the discovery of a new zone with large tonnage potential.

Chile will draw on all options at its disposal, including suing for damages, to defend the interests of state-owned Codelco in its fight with Anglo American, President Sebastián Piñera told the Asia Pacific Economic Cooperation Forum on Saturday. Earlier Codelco's chief Diego Hernandez said in a press interview the looming legal battle with Anglo could take three to four years to be resolved. The state-owned copper giant is putting together a crack team of lawyers and financial advisers from Chile and New York to fight Anglo's attempt to block it from exercising an option to buy half of Anglo's Chilean copper assets for $6 billion. Anglo last week sold 24.5% to Mitsubishi for $5.4 billion.

The Telegraph reports Anglo American CEO Cynthia Carroll took a last-minute flight to Santiago on Thursday to calm tempers over the sale of a 24.5% stake to Mitsubishi Corporation but neither Chile's president Sebastian Pinera, finance minister Felipe Larrain or mining minister Hernan de Solminihac would see her. She is understood to have contacted all three before announcing the $5.39 billion deal that undermines state-owned copper giant Codelco's plan to exercise the 33-year old option to buy half of Anglo's Sur copper complex. The Mitsubishi transaction values Anglo Sur at $22 billion and Anglo's stock is up 4.8% since the deal. Codelco was offering $6 billion for 50% and is now putting together a team of top New York and Chile litigation firms and financial advisor Rothchild.