Peru Mining News

Peru’s illegal mining exports reached $1.8 billion in 2011, exceeding even drug trafficking profits, which accounted for $1.2 billion, said local consultancy firm Macroconsult.

Posted: May 18, 2012, 3:51 pm

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.

Posted: May 16, 2012, 4:59 pm

Canadian mining company Barrick Gold Corp. (ABX, ABX.T) is hoping to extend the mine life at its Peru operations as it aims to increase reserves through exploration projects, said Darrell Wagner, the general manager of local subsidiary Minera Barrick Misquichilca SA.

Posted: May 14, 2012, 8:44 pm

Barrick Gold, the world's largest gold producer, said on Monday its production of the yellow metal in Peru should be slightly lower this year than in 2011.

Posted: May 14, 2012, 5:43 pm

With huge investments in Peruvian copper, Chinalco Mining, a division of the giant Aluminum Corp of China, follows another Chinese state-owned miner to the Hong Kong market to raise money.

Posted: May 9, 2012, 4:25 pm

Zincore Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore" or the "Company") is pleased to report that it has entered into a strategic partnership with First Quantum Minerals Ltd. (TSX:FM)(LSE:FQM) ("First Quantum") Under the terms of a binding Memorandum of Understanding ("MOU"), First Quantum's wholly-owned subsidiary, FQM (Peru) Ltd will make a strategic investment in Zincore via private placement for 19,113,874 common shares at $0.20 per share (the "Private Placement") and fund the advancement of Zincore's Dolores copper porphyry project through exploration and, if warranted, development and production. The Dolores project is located in the prolific Yauri-Andahuaylas Copper District of southern Peru, approximately 40 kilometres from the Haquira deposit, which First Quantum is currently developing.

Posted: May 8, 2012, 2:16 pm

Major copper producer Grupo Mexico reported a 35% jump in first-quarter profit, helped in part by higher mine production numbers.

Posted: May 3, 2012, 12:24 am

Even after today's heavy losses it is still showing gains for the year of 86%.

Posted: May 2, 2012, 5:00 pm

Newmont Mining could reallocate project funds if an ongoing evaluation of the environmental impact study for its $4.8 billion Conga mine turns economically unfavourable, CEO Richard O'Brien said.

Posted: May 1, 2012, 3:35 pm

Anglo-Swiss Xstrata Plc. (LON:XTA) reported today mixed production results for its first quarter, with copper production declining 18%, but said operating and financial performance remains strong.

Posted: May 1, 2012, 2:01 pm

Newmont Mining Corp. (NYSE and TSX: NEM) reported a 9% increase in first-quarter profit to $561 million, or $1.13 a share, despite the ongoing troubles with its hindered $4.8 billion copper-gold project in Peru, the Conga mine.

Posted: April 30, 2012, 11:28 am

The president of Newmont Mining Corp. said Friday that the U.S. company could halt investment in a major gold mining project in Peru's north if modifications sought by the government significantly affect its profitability.

Posted: April 28, 2012, 6:45 pm

CST Mining is selling its 70% stake in the Mina Justa copper project in Peru for US$505 million.

Posted: April 24, 2012, 8:54 pm

Peruvian President Ollanta Humala said on Friday that U.S.-based Newmont Mining should carry out a more ambitious environmental mitigation plan if it hopes to build its $4.8 billion Conga gold mine project.

Posted: April 20, 2012, 11:49 pm

US-based Southern Copper and Australia's Oz Minerals are both looking to acquire assets in South America, according to media reports Wednesday.

Posted: April 19, 2012, 5:40 am