Illegal mining, drugs fund thousands of criminals operating in Venezuela

Auction of $2 billion Michiquillay project in northern Peru slated for this week is canceled by the embattled government of President Pedro Pablo Kuczynski.

More than half the 2017 combined market cap gains for the world's largest listed miners accrued to just five firms as gold producers drop out of top 10.

Chilean miner Antofagasta Plc said on Wednesday it had reached a new wage agreement with unionized workers at its Centinela mine.

Auction for $2 billion Michiquillay copper mine project in Peru was canceled by government of President Pedro Pablo Kuczynski but is now slated for February.

The suspension is in response to a 40-day long blockade at its El Limón-Guajes gold mine.

The political shifts are good news for the likes of BHP Billiton Ltd., Rio Tinto Group, Glencore Plc and Anglo American Plc.

Strikes and slashed funds at South American copper operations could be an early sign of what is likely to be a defining feature of the market next year.

Before any heavy equipment touches the ground, Columbus and Nordgold have to go through a public consultation and receive required permits.

Back in September, the expectation for 2018 was of $488 million in revenues from industrial mining.