Latin America Top Stories

Unions to strike at Chile’s Chuquicamata after labor deal falls through

Workers "decided unanimously to initiate a walk-off beginning the first…

Pot is taking the spotlight away from lithium and threatening the EV boom

Lithium miners are seeing investor interest go up in smoke.

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Scorpio Mining down 4% after disappointing results

Toronto-listed Scorpio Mining Corp reported a quarterly profit helped by production ramp-up at its Nuestra Señora mine in Mexico, but missed market estimates compiled by Reuters, sending its shares to close just under 4% down. Vancouver-based Scorpio reported a net income of C$3.3 million and strong cash flow from operating activities in Q2 2011 of $11,9 million as recovered silver equivalent ounces reached 1,548,174, an increase of 79% from 2010 and contained metals produced in concentrates jumped 92% to of 734,558 ounces.

BHP Billiton declares force majeure at Escondida

BHP Billiton Ltd. has declared force majeure on exports from the world’s biggest copper mine, as a mine workers’ strike entered its eighth day. The strike at BHP’s Escondida mine in Chile, which supplied 7 per cent of the world’s copper last year, comes in a month of widespread mining strikes from Indonesia to South Africa. BHP's Escondida mine (pictured) has been the site of an 8-day strike in Chile.

Goldcorp’s Mexico hassles force Silver Wheaton to cut 2011 forecast by 2 million oz

Silver Wheaton, the global number one silver streaming firm, announced on Thursday that it is revising its 2011 attributable silver equivalent production guidance from 27 to 28 million silver equivalent ounces to 25 to 26 million silver equivalent ounces. Stock in the company on the Toronto exchange ended little changed on Thursday, but is down 9.5% so far this year which means investors have taken more than a $1 billion knock. Silver Wheaton expects its 2015 attributable production to grow by 17 million ounces.

Barrick’s net earnings for Q2 rose 35% to $1.2 billion; costs rise at Pascua-Lama and Pueblo Viejo

Barrick, the word's number one gold miner, reported net earnings for Q2 rose 35% to $1.2 billion ($1.16 per share) from $859 million in the prior year period. Q2 adjusted net earnings increased 36% to a record $1.1 billion ($1.12 per share)1 from $824 million ($0.84 per share) in Q2 2010, reflecting higher realized gold and copper prices and higher gold sales volumes, resulting in an annualized return on equity of about 21%. The company is on track to meet its 2011 operating guidance of 7.6-8.0 million ounces at total cash costs of $450-$480 per ounce and lower expected net cash costs of $290-$320 per ounce

Chile June copper output tumbles on labor woes, rain

Chile's copper output tumbled 8.5 percent to 426,477 tonnes in June after a contract workers' strike, heavy rains and power outages hit operations at the world's top copper producer, the government said on Thursday.

Newmont Board approves Conga project in Peru and Tanami shaft project in Australia

Newmont Mining Corporation (NYSE:NEM) today announced that its Board of Directors approved funding for the Conga project in Peru and the Tanami Shaft project in Australia. Combined, the two projects are expected to add approximately 400,000 attributable ounces of gold and up to 100 million pounds of copper production per year once commercial operations commence in late 2014 to early 2015.