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South America News
Anglo-BHP battle is between two CEOs fighting over same vision
By: Bloomberg Updated 41 minutes ago As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job. Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the... →
All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers 
By: Martin Creamer 14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... →
Tin prices may see further support from supply risks, rate cuts, analysts say
By: Reuters 14th May 2024 Tin prices, which have rallied in recent months to near two-year highs, could be bolstered further by supply disruptions, ongoing geopolitical conflicts, fund inflows in the event of interest rate cuts and stabilising demand, analysts say. Benchmark three-month tin on the London Metal Exchange... →
Copper climbs to highest in two years as bulls see deficit
By: Bloomberg 14th May 2024 Copper touched its highest level since 2022 after a powerful rally fueled by forecasts of a growing global supply deficit. The commodity’s gain since the start of January is approaching 20% with prices defying typical indicators of soft demand, especially in China. That’s partly because... →
Hochschild hits commercial production at its first Brazil mine
By: Creamer Media Reporter 14th May 2024 Precious metals company Hochschild Mining has achieved commercial production at the Mara Rosa gold mine – its first operation in Brazil. During May, the Mara Rosa processing plant has operated at an average throughput of 90% of its nameplate capacity of 7 000 t/d and exceeded 80% average... →
Investors expect BHP to lift Anglo American offer again
By: Reuters 14th May 2024 BHP is likely to sweeten its $43-billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid. Anglo said the improved all-share offer, up 10% from BHP's initial... →
Peru zinc miner Volcan to avoid debt haircut, new owner says
By: Bloomberg 14th May 2024 Volcan Cia Minera plans to make a series of debt payments through August and to refinance later obligations without imposing losses, said the head of its new controlling shareholder, dismissing speculation over a default or restructuring at the Peruvian zinc miner. “Absolutely, categorically no... →
Top critical mineral miner CBMM sees opportunity in EV batteries
By: Bloomberg 14th May 2024 A Brazilian company focused on mining a metal used to strengthen alloys is betting that its mainstay product can also play a key role in improving electric vehicle batteries. Cia. Brasileira de Metalurgia e Mineração is the world’s top producer of niobium, a critical mineral that’s only mined in... →
Green energy presenting South Africa with massive reindustrialisation chance – Nedbank 
By: Martin Creamer 13th May 2024 Green electrons and green molecules are presenting South Africa with a massive opportunity to reindustrialise, Nedbank CIB head of infrastructure, energy and telecommunications Mike Peo told the Green Hydrogen Roundtable on Monday. “We have an opportunity for South Africa to completely... →
Anglo rejects BHP's revised £34bn proposal
By: Mariaan Webb 13th May 2024 Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion. The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an... →
Caledonia starts year with higher output, profit
By: Marleny Arnoldi 13th May 2024 Gold miner Caledonia Mining says its production and profit was supported by a favourable gold price in the first quarter of the year, which has continued through April and into May. The company’s Blanket and Bilboes mines, in Zimbabwe, recorded a 6% increase in production to 17 476 oz, compared... →
Platinum demand outlook pretty robust, World Platinum Investment Council highlights
By: Martin Creamer 13th May 2024 The outlook for platinum is one that's pretty robust, the World Platinum Investment Council (WPIC) has highlighted in its latest Platinum Quarterly, which shows the projection of the metal's demand as being very encouraging amid a near-record-low supply prediction. Automotive demand is at a... →
Chile copper output edges down in March, dragged by Codelco
By: Reuters 13th May 2024 Copper output in Chile, the world's largest producer of the metal, edged down in March, data from copper commission Cochilco showed on Friday, as production slid at state-run miner Codelco but rose at other major mines in the country. Output at Codelco, the top global supplier of the red metal,... →
AngloGold starts year with 2% higher output despite flooding in Australia
By: Marleny Arnoldi 10th May 2024 Gold miner AngloGold Ashanti has started the year off well, with a 2% increase in production to 581 000 oz for the quarter ended March 31, despite the impact of heavy rain and flooding on output in Western Australia. CEO Alberto Calderon says the company is seeing greater consistency from most of... →
Fantastic advance by Proudly South African manganese battery metal first-mover
By: Martin Creamer 10th May 2024 Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also... →
Copper above $10 000 as supply worries counter faltering demand
By: Bloomberg 10th May 2024 Copper climbed above $10 000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China. Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to... →
DRDGOLD posts lower third-quarter output, but higher earnings
By: Marleny Arnoldi 10th May 2024 JSE-listed gold recovery company DRDGOLD has generated higher adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended March 31, compared with the same quarter of last year, despite having produced slightly fewer ounces. Adjusted Ebitda in the... →
SQM and Hancock wrap up Azure transaction
By: Mariaan Webb 10th May 2024 Australian battery metals explorer Azure Mining has been successfully acquired by joint bidders SQM and Hancock Prospecting in a A$1.7-billion deal. The Chilean miner teamed up with Australia’s richest person, Gina Rinehart, in December to buy the lithium developer. →
Hydrogen’s ‘irreplaceable’ role highlighted by platinum-linked venture capital provider
By: Martin Creamer 9th May 2024 The role of hydrogen in the decarbonisation of the hardest-to-abate sectors of the global economy continues to be highlighted as “irreplaceable” by AP Ventures, the independent venture capital fund focused on investing in early-stage companies that use or enable the use of platinum group metals... →
Brazil court rejects requests to block $15.7bn from Vale, BHP
By: Reuters 9th May 2024 A Brazilian federal court rejected a request made by the country's solicitor general's office asking that miners Vale, BHP and their joint venture Samarco pay 79.6-billion reais ($15.64-billion) for the 2015 collapse of a tailings dam. The request had been filed under a civil lawsuit in which... →
China's 2024 iron-ore imports seen similar to last year's - Vale
By: Reuters 9th May 2024 Imports of iron-ore by China, the world's biggest buyer, in 2024 are expected to be around 1.17-billion to 1.18-billion metric tons, similar to last year's 1.18-billion tons, a senior official of miner Vale said on Wednesday. "In the near term, we are still seeing strong resilience in the... →
Rob McEwen optimistic about Argentina’s economic revival
By: Mariaan Webb 9th May 2024 Renowned mining magnate Rob McEwen is optimistic about Argentina’s economic prospects, citing President Javier Milei’s commitment to fiscal discipline and foreign investment as key drivers for growth. McEwen recently returned from a trip to Argentina, where he met Milei and engaged in... →
South Deep wind power decision drawing closer, Q2 update likely on backfill problem
By: Martin Creamer 8th May 2024 Mining company Gold Fields expects to be in a position to decide on the establishment of a wind power project at the South Deep gold mine, west of Johannesburg, in the third quarter of this year. The project is currently undergoing scoping and feasibility and one of the key pieces of work has... →
GoviEx hosts Minister at Madaouela to show its commitment to transparency, collaboration
By: Marleny Arnoldi 8th May 2024 TSX-V-listed GoviEx Uranium this week hosted a Ministerial delegation at its Madaouela uranium project, in Niger, amid ongoing discussions with government as the project development advances. Niger Mines Minister Ousmane Abarchi visited the site along with the governor of the Agadez region and... →
Kinross records 20% margin surge, free cash flow triples
By: Mariaan Webb 8th May 2024 Canadian miner Kinross has kicked off the year on a robust note, marking a 20% surge in margins and a remarkable tripling of its free cash flow. In its first-quarter report unveiled this Tuesday, Kinross revealed a 20% uptick in margins to $1 088/gold-equivalent ounce (GEO) sold, outpacing the... →
Glencore sells stake in Peru zinc miner Volcan
By: Creamer Media Reporter 7th May 2024 Swiss-headquartered Glencore has announced a definitive agreement to sell its stake in Volcan Compañia Minera to a subsidiary of Integra Capital. Transition Metals will pay Glencore $20-million for a stake in Volcan, which mines zinc, lead and silver in Peru. →
Avanti appoints mining veteran Jonah as chair, acquires gold prospect in Botswana
By: Marleny Arnoldi 7th May 2024 Canada-listed Avanti Gold has appointed Sir Samuel Jonah director and chairperson of the company, at a time when the company explores a stretch of newly acquired prospective terrain in Botswana. Jonah has made valuable contributions to the mining sector in Africa, including as former president... →
South Deep gold output well down as Gold Fields implements recovery plan
By: Martin Creamer 7th May 2024 With first-quarter gold production down 34% at South Deep gold mine, Gold Fields is focusing on setting up the well-endowed long-life Gauteng operation for longevity, quality ounces and sustainable production increases. The challenging quarter of the bulk mechanised mine near Westonaria, west of... →
BHP insists Anglo American's South African assets must go in any takeover, sources say
By: Reuters 7th May 2024 BHP's plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revised offer, investors briefed on the miner's thinking said. The "Big Australian" was rebuffed by its smaller rival on April 26... →
Central Puerto eyes stake in McEwen’s Argentina copper project
By: Bloomberg 7th May 2024 Central Puerto, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter. After recently signing a deal for a stake in the Diablillos silver-gold project in Salta province, Central Puerto is... →
First Quantum to seek talks with Panama’s Mulino on closed mine
By: Bloomberg 7th May 2024 First Quantum Minerals will seek talks with Panama’s incoming president in an effort to resolve the dispute that shuttered the Cobre Panama copper mine. President-elect Jose Raul Mulino, seen as an investor favorite, has said little about First Quantum’s $10-billion mine, which closed last year... →
Copper 360’s underground copper mine set to open three months ahead of schedule
By: Martin Creamer 6th May 2024 Last month copper mining company Copper 360 surprised on the upside by producing its first copper concentrate from surface material well ahead of schedule. Now, this month, it is doing the same on the underground mining front in that it will be opening its Rietberg underground copper mine three... →
Sibanye appoints Peter Hancock as nonexec director
By: Creamer Media Reporter 6th May 2024 Multinational mining and metals processing group Sibanye-Stillwater has appointed Peter Hancock as independent nonexecutive director, with effect from May 6. Hancock is a mining industry executive with more than 30 years of experience with Glencore overseeing nickel mining operations, developing... →
Growth in platinum jewellery demand continues in most key markets
By: Sabrina Jardim 6th May 2024 In its latest Platinum Jewellery Business Review (PJBR) for the fourth quarter of 2023, marketing organisation Platinum Guild International (PGI) has reported that India’s jewellery market maintained its robust growth during the final quarter of last year, while Japan enjoyed modest gains, and... →
Gold edges higher as investors mull mixed US economic signals
By: Bloomberg 6th May 2024 Gold edged higher after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation. The precious metal fell as much as 0.4% on Monday before reversing, following its back-to-back weekly loss on Friday. Investors have... →
Argentina mining exports up 4.3% in 2023 as industry confidence grows
By: Reuters 6th May 2024 Argentina's mining exports grew 4.3% in 2023 over the year, driven by lithium, an industry group said on Friday, expressing confidence that the country's ample metals and minerals deposits can help lift the economy from a prolonged crisis. Exports reached $4.032-billion last year, Roberto... →
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
By: Bloomberg 6th May 2024 Two of BHP Group’s biggest rivals are sitting on the sidelines for the moment as they watch to see how a takeover offer for Anglo American will play out. Both Rio Tinto Group and Glencore are more focused on waiting for opportunities to snap up specific parts of Anglo’s business as BHP’s bid... →
Hot Chili arranges nearly A$30m for Chile copper project
By: Creamer Media Reporter 6th May 2024 ASX-listed copper miner Hot Chili has arranged about A$30-million in funding to accelerate its Costa Fuego copper project, located in the coastal range of Chile. The company, which also trades on the TSX-V, arranged a A$24.9-million private placement to institutional and professional investors... →
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