Latin America

Brazilian iron ore producer Vale is looking to spin-off its base metal business, which could be worth up to $14bn.   The company said that slumping iron ore prices have prompted it to concentrate on its core business.   Vale could sell a 30% to 40% stake in the metal…
A mining unit the Vedanta Group Sesa Sterlite has approved the plan to invest $782m in development of the Gamsberg-Skorpion Integrated Zinc project in South Africa and Namibia.   The monies will be used to build an open pit zinc mine in Gamsberg, South Africa, and convert the Skorpion Zinc…
Chile's state-owned copper production company Corporación Nacional del Cobre de Chile (Codelco) has secured a $300m loan from Export Development Canada (EDC).   Codelco, which produces about 11% of the world's copper, is planning to invest around $23.5bn over the next four years in increasing its production capacity.   Plans…
Workers at Peru's Antamina copper mine have started the strike to demand higher wages.   Antamina union SUTRACOMASA spokesperson Hernan Robles has said that production at the mine has come to a halt and the company will struggle to send copper ore to port for export, reports Reuters.   Earlier…
Brazil-based mining company Vale has received an environmental licence to expand its Carajás open pit mine in the state of Para.   Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (IBAMA) issued the licence, which will help the company expand its N4WS mine in Carajás, as it aims…
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