Latin America

Canada-based Kinross Gold has signed a deal with Fortress Minerals, a division of the Lundin Group, to sell its 100% stake in Aurelian Resources and the Fruta del Norte (FDN) project in Ecuador for $240m.   Of the total amount, Fortress will pay $100m to $190m in cash and the…
Another mine spill has been reported in Mexico, which has poured around 11,000t of toxic material into the country's rivers.   The incident occurred at the Two Gentlemen's gold-silver mine in the northern Mexican state of Sinaloa, when waste pollutants leaked out into the Chupaderos stream that flows into the…
Brazil-based iron ore producer MMX Mineracao & Metalicos' subsidiary, MMX Sudeste Mineracao, has filed for bankruptcy protection from creditors in a Belo Horizonte court.   MMX Sudeste controls the Serra Azul and Bom Sucesso ventures, and generates the majority of revenue for MMX Mineracao, which is owned by Brazilian tycoon…
China-based mining firm MMG is planning to invest between $2.7bn and $3.2bn in completing the construction of its Las Bambas copper mine in Peru.   The mine, which MMG acquired in August from Glencore for $7bn, was expected to start production in 2015.   However, higher costs, changes in the…
Newmont Mining has started construction on its $1bn Merian Gold project in Suriname, South America.   Located around 40 miles south of Moengo, the 1,235 acre project belongs to Newmont's wholly owned entity Suriname Gold Company (Surgold), reported The Washington Times.   With gold reserves of 4.2 million ounces, the…
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