Chile’s government said it is open to further amend a controversial mining royalty bill expected to enter into force on next year, following mounting criticism of its impact on the industry’s competitiveness.
Finance Minister Mario Marcel said after the bill approval by the mining commission of the Senate, miners have requested certain modifications that do not alter the proposed law, but which could be included during the legislative stage.
https://www.northernontariobusiness.com/
City of Greater Sudbury signs letter of intent with Peruvian region to promote innovation and cooperation
Sudbury’s environmental remediation expertise is being exported to Peru. The City of Greater Sudbury and the regional government of Moquegua, two international mining centres, have signed a letter of intent of cooperation during the recent PDAC mining show in Toronto earlier this month.
According to a city news release, this alliance letter recently signed is a formal relationship builder between the Nickel City and this region of Peru with the intention that it will mutually “stimulate economic development, workforce development, battery and microchips development, research and remediation technology, and curricula transfer, helping people and businesses on both sides of the Americas thrive.”
(Bloomberg) — A proposed new mining contract between Panama’s government and Canada’s First Quantum Minerals Ltd. would protect the company against a drop in copper prices, while giving the nation a boost in revenue from its mineral wealth, according to the government.
The deal is a “win-win” for both sides, and will serve as the standard for future mining contracts in the country, Panama’s Minister of Commerce and Industry Federico Alfaro Boyd said Friday, in a phone interview.
For all the hype about “Aztec gold” in Disney’s Pirates of the Caribbean, Mexico’s classic measure of wealth has been silver — and it may be its future. Prized equally on both sides of the Atlantic, Tenochtitlán overlords demanded the metal as tribute from places like Taxco, Guerrero, long before the Spanish arrived.
When conquistador Hernán Cortés entered the capital, Moctezuma hoped to placate him with gifts, including large quantities of gold and silver. However, the strategy backfired, making the Spanish more determined to take over. Although Mexico did (and does) have gold, its vast deposits of silver have been central to its history and economy since.
MUZO, Colombia — Although he has helped transform Colombia’s emerald industry, long a source of violence and environmental damage, former U.S. diplomat Charles Burgess admits that he got into the business on a whim.
“I don’t have a mining background,” he told NPR during a recent tour of the mine he runs near the town of Muzo deep in the Andes Mountains. “I never in my wildest imagination thought I’d be working in any sort of business like this. But it’s been fascinating.” Burgess, 67, is president of the Muzo Companies Colombia that mine and export 85% of Colombia’s emeralds, helping to make the country the world’s largest producer of high-quality emeralds.
https://www.theglobeandmail.com/
First Quantum Minerals Ltd. has reached a tentative agreement with Panama that would end a bitter tax dispute and head off a shutdown of the company’s biggest copper mine.
The Vancouver-based miner announced on Wednesday it would pay a minimum of US$375-million in taxes a year to Panama, with built-in downside protection that would reduce the payments if there were a steep fall in the price of copper.
Argentina, Chile, Bolivia and Brazil are analyzing the creation of a lithium cartel of sorts in charge of expanding South America’s processing capacity, turning more of their mined lithium into batteries and tapping into the electric vehicles (EVs) manufacturing sector.
The group would emulate similar schemes, such as the Organization of the Petroleum Exporting Countries (OPEC), in terms of coordinating production flows, pricing and good practices, representatives of the Argentinean delegation said at the annual PDAC Convention, held this week in Toronto, Canada.
(Bloomberg) — South American nations are stepping up efforts to propel themselves further down the electric-vehicle supply chain by leveraging their vast mineral wealth, expanding processing capacity, and targeting vehicle manufacturing.
Argentina, Chile, Bolivia and Brazil plan to coordinate action on turning more of the region’s mined lithium into battery chemicals, as well as moving into manufacturing of batteries and EVs, according to Argentina Mining Undersecretary Fernanda Avila.
Canada’s First Quantum Minerals (TSX: FM) says it’s experiencing losses of up to $8 million a day due to the suspension of ore processing and port loading affecting its giant copper mine in Panama.
In a letter sent this week to the country’s Maritime Authority (AMP), the chief executive of First Quantum’s local unit, Minera Panama, said the halt ordered last week has had a domino effect.
Bloomberg) — Metals producer Vale SA is turning 37 years worth of mining waste at an iron ore complex in the Amazon into high-quality material to be used in steel production.
The company has started extracting scrap that had been dumped at a tailings dam at Carajas in northern Brazil since 1985 as part of a project at its largest iron ore operation.
BHP (ASX: BHP), the world’s largest miner, is hoping to expand its investments in Argentina’s copper sector, where it already has a presence through its 9.9% stake Canada’s Filo Mining (TSX: FIL), the junior developing the Filo del Sol copper-gold-silver project straddling the border with Chile.
Company representatives met with the San Juan’s governor on Tuesday to discuss possible investments in the minerals-rich province, which is recognized a safe mining destination due to the support to mining activities by both authorities and locals.
For the last four years Brazil’s rainforests bled. “They bled like never before,” said Felipe Finger as he prepared to venture into the jungle with his assault rifle to staunch the environmental carnage inflicted on the Amazon under the former far-right president Jair Bolsonaro.
Moments later Finger, a mettlesome special forces commander for Brazil’s environmental protection agency, Ibama, was airborne in a single-engine helicopter, hurtling over the forest canopy towards the frontline of a ferocious war on nature and the Indigenous peoples who lived here long before Portuguese explorers arrived more than 500 years ago.
McEwen Copper, a subsidiary of McEwen Mining, on Monday announced two separate transactions that provide a significant financial boost for its Los Azules project, in Argentina.
The company announced that automaker and mobility group Stellantis had invested 30-billion Argentine peso (about $150-million) to acquire shares of McEwen Copper in a two-part transaction that closed last week.
Canada’s First Quantum Minerals (TSX: FM) said on Thursday it had halted ore processing operations at its giant Cobre Panama copper mine, in the latest escalation of a dispute with Panama’s government over tax and royalty payments.
Negotiations between the Toronto-based miner and the country’s government over a new contract for the mine turned sour in December, when the President announced a plan to halt the operation.
Many exploration geologists would call it quits after 40-years scouring for gold in 19 countries, finding, and then selling a gold discovery for C$1.2 billion, receiving the Thayer Lindsley International Discovery Award and the Mining Man of the Year.
But quitting is not in books for Dr. Keith Barron who’s is at the helm of Aurania Resources Ltd. [TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q] stalking what he believes could be the next world-class discovery in Ecuador.
