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Latin America Mining

Codelco eyes $800M extension to keep Gabriela Mistral open until 2055 – by Cecilia Jamasmie (Mining.com – December 23, 2024)

https://www.mining.com/

Chile’s state-owned copper producer Codelco said on Monday it has applied for an environmental permit to extend the life of its Gabriela Mistral mine by over 25 years, pushing the current closure date from 2028 to at least 2055.

The $800 million proposal aims to sustain production at the open-pit mine in Chile’s Antofagasta region, which has been operational since 2008. A key component of the plan is the transition away from using domestic land-based water by 2035. Instead, the mine will rely on third-party water sources that comply with environmental standards. In exchange, Codelco has pledged to supply an equivalent amount of water to the local community.

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Rio Tinto’s $2.5 Billion Lithium Plan Is a Win for Milei – by James Attwood and Jonathan Gilbert (Bloomberg News – December 12, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Rio Tinto Group plans to invest $2.5 billion in a new lithium mine in Argentina in a win for President Javier Milei’s efforts to deregulate the country’s economy and lure foreign investment.

The UK company plans to build a processing plant at the Rincon mine with an annual capacity of 60,000 metric tons of lithium carbonate, it said Thursday in a statement. Work on the facility, subject to permitting, will start in the middle of next year.

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Lithium leap: Brazil makes journey to become a leading supplier – by Anne Barbosa and Adriana Carvalho (S&P Global – August 15, 2024)

https://www.spglobal.com/

Brazil’s legislative overhaul in lithium export regulations has transformed the country into a burgeoning hub for lithium production, unlocking vast economic potential and attracting global investments.

“Thanks to a legislative change made four years ago regarding lithium exports, we can now transform this mineral asset into an economic resource,” Fernando Passalio, secretary of state for economic development of Minas Gerais, told S&P Global Commodity Insights.

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Chile Copper Firms Begin Talks on Combining Smelter Efforts – by James Attwood (Bloomberg News – December 11, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Codelco and Enami, Chile’s two state copper companies, are discussing the possibility of combining their respective efforts to expand smelting capacity into a single project, according to people with knowledge of the matter.

A new working group is looking into collaboration between a project to overhaul a shuttered Enami smelter and a separate proposal to build a new plant being organized by Codelco, said the people, who asked not to be identified given the talks are private and at an early stage.

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Indigenous Mining Complicates Brazil’s Fight Against Illegal Gold – by Ricardo Brito and Adriano Machado (U.S. News/Reuters – December 2, 2024)

https://www.usnews.com/

JACAREACANGA, Brazil (Reuters) – The involvement of Indigenous people in illegal gold hunting, lured by the prospect of easy money due to record prices, has made Brazil’s task of cracking down on wildcat mining in the Amazon far harder, environmental agents and police say.

The Munduruku territory, a reservation the size of Switzerland on the Tapajos river, a major Amazon tributary, has become a hot spot for illegal mining, which Brazilian law bans on Indigenous land. But increasingly, Munduruku tribe members are entering the illegal trade that is backed by organized crime.

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Panama agrees $26m payment to settle dispute with US miner – by Staff (Mining.com – November 26, 2024)

https://www.mining.com/

Panama has agreed to pay $26 million to settle a dispute with Dominion Mineral Corp. after losing an arbitration award in 2020 over the US mining company’s copper-gold exploration licences, according to La Estrella de Panamá.

The claim arose after the Panama refused to extend a mining exploration concession for the Cerro Chorcha project, held by Dominion’s local subsidiary Cuprum under a 2006 contract with Panama. The contract had an initial period of four years with the possibility of renewal for two additional 2-year terms.

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Bolivia says China’s CBC to invest $1 billion in lithium plants – by Daniel Ramos and Daina Beth Solomon (Reuters – November 26, 2024)

https://www.reuters.com/markets/

Bolivia’s government and Chinese consortium CBC, which includes battery manufacturer CATL, have signed an agreement for CBC to build two direct lithium extraction plants for at least $1 billion, government authorities said on Tuesday.

The government will take a 51% stake in the project, to be located in the Uyuni salt flat in southwest Bolivia, within the so-called lithium triangle shared with Chile and Argentina. The two plants together are intended to produce 35,000 metric tons of lithium a year, said Omar Alarcon, head of state-run lithium company YLB.

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BHP bets billions on Chile mines to face global copper crunch – by Daina Beth Solomon and Fabian Cambero(Reuters – November 22, 2024)

https://www.xm.com/

BHP Group expects a global copper deficit of 10 million metric tons a decade from now, a shortfall that is driving its plans to spend at least $11 billion at the world’s biggest copper mine, Escondida, and other projects in Chile.

BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years to extract more copper from Escondida and the smaller Spence mine, and restart the Cerro Colorado mine. The world’s biggest listed miner’s annual production is set to fall by around 300,000 tons to 1.6 million tons by the end of the decade, largely driven by a slump at Escondida that is expected to peak in 2025.

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BHP, Vale cleared by Brazil court over 2015 dam disaster – by Lucia Lacurcia (AFP/Yahoo – November 14, 2024)

https://www.yahoo.com/

A Brazilian court on Thursday cleared mining giants BHP and Vale, and their Brazilian joint venture Samarco, of responsibility over a 2015 dam collapse that caused the country’s worst ever environmental disaster.

The dam’s rupture on November 5, 2015 near the town of Mariana unleashed a giant torrent of toxic mud that swamped villages, rivers and rainforest, killing 19 people on its way to the sea. Scientists say the sludge caused “permanent” pollution on the river Doce and its coastal plain.

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Millennial mining heirs bet the family business on Argentine copper – by Jacob Lornic (Bloomberg News – October 25, 2024)

https://www.bnnbloomberg.ca/

When he was 16, Adam Lundin was lowered by helicopter into the remote wilderness of northern Canada. For the son of a wealthy mining mogul, this was something of an initiation. He spent the summer hunting for gold — shadowing grizzled prospectors and geologists, bushwhacking through the Boréal forest.

He even dug holes for where the outhouses would go. “I just wanted to be kept busy,” he said. Adam, 37, is now the chairman of Lundin Mining Corp., a publicly traded Canadian metals producer. His younger brother, Jack, 34, is the company’s chief executive officer.

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Teck cuts copper forecast again as it encounters more problems at anchor QB2 mine in Chile – by Niall McGee (Globe and Mail – October 25, 2024)

https://www.theglobeandmail.com/

Teck Resources Ltd. has cut its full-year copper forecast yet again owing to setbacks at multiple mines, including at its giant QB2 copper operation in Chile. Vancouver-based Teck said on Thursday that its 2024 copper production will be between 420,000 tonnes and 455,000 tonnes, about 6.5 per cent lower than predicted.

The downgrade was driven in part by issues with its haul trucks at its Highland Valley mine in British Columbia, including labour availability and problems with its autonomous system. Teck also cut its guidance for the QB2 mine in Chile, reducing its forecast by 6 per cent to roughly 205,000 tonnes.

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Liability trial for BHP in Samarco dam collapse begins in London – by Cecilia Jamasmie (Mining.com – October 21, 2024)

https://www.mining.com/

BHP (ASX, NYSE: BHP) faces a potential $47 billion payout in damages over the 2015 Mariana Dam disaster in Brazil, believed to be country’s most catastrophic environmental incident, as a lawsuit against the miner kicked off on Monday in London’s High Court.

The trial, expected to last up to 12 weeks, will determine whether BHP is legally responsible for the collapse of the Fundão tailings dam in Minas Gerais, Brazil. The structure failure caused a massive flood that claimed 19 lives, destroyed villages and severely polluted water sources for local communities. The dam was owned by Samarco, a joint venture between BHP and Brazilian mining giant Vale.

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Canadian miner Hudbay settles long-standing lawsuits alleging human rights abuses in Guatemala – by Niall McGee (Globe and Mail – September 8, 2024)

https://www.theglobeandmail.com/

Hudbay Minerals Inc. HBM-T has settled a long-standing series of lawsuits in an Ontario court that centred around alleged human-rights abuses at a Guatemalan nickel mine more than a decade ago.

The allegations heard in the Ontario Superior Court are based on clashes between Indigenous Mayan protesters and security personnel at the Fenix nickel mine in eastern Guatemala in 2007 and 2009.

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Indigenous women from Ecuador bring concerns on mining abuses, free trade to Parliament Hill – by Brett Forester (CBC News Indigenous – October 02, 2024)

https://www.cbc.ca/news/indigenous/

Delegation to meet with federal leaders in Ottawa amid talks on proposed free trade deal

Indigenous women from Ecuador are in Ottawa this week raising concerns a proposed free trade agreement could enable human rights abuses by Canadian mining companies operating on their ancestral lands.

The delegation travelled thousands of kilometres from the rural reaches of the Ecuadorian Amazon to Canada’s capital city, bringing what they say is an urgent message of grave concern to the doorstep of Parliament Hill.

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Argentina’s Economic Crisis Thwarts Bid to Go Nuclear With Lithium Bounty – by Jonathan Gilbert (Bloomberg News – September 17, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Nuclear scientists eager to add value to Argentina’s lithium bounty are being stymied by the country’s notorious economic problems.

For decades, the nation’s world-renowned atomic researchers have toiled on projects in Buenos Aires and Bariloche in Patagonia. Now, with Argentina emerging as the fastest-growing producer of lithium needed for the global shift to electric energy, they’re working on innovations to convert the battery metal into something scarcer than gold: lithium-6 isotopes that have key nuclear applications.

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