Samarco offers creditors shares or 85% haircut – sources

The wet season in the austral summer has caused havoc in northern Chile.

The Responsible Mining Foundation says many of the world’s largest mining companies are not able to ‘know and show’ how effectively they are addressing the risks of tailings dam failure and seepage.

In the near term, the significant disruption to Brazilian supply will likely keep iron ore prices elevated and volatile.

SolGold is frustrated at the rejection of its planned bid for Canadian firm Cornerstone, which holds 15% of the Cascabel copper-gold project in Ecuador.

This week’s drama has played out as the most important iron ore user has been offline, with Chinese markets closed for Lunar New Year.

Codelco has halted operations at its Chuquicamata and Ministro Hales copper mines; Freeport-McMoRan suspended El Abra.

About 700 people were evacuated from two towns located near tailings dams operated by Vale and ArcelorMittal on mounting fears after last month's breach at Brumadinho, the country's deadliest mine disaster.

The indicated resource totals 7.6 million tonnes grading 117 g/t silver, 0.5% zinc and 0.3% lead.

Last year, Chile's total copper production rose by 6 percent to 5.83 million tonnes.