China’s Zijin Mining to buy Canada’s Continental Gold for $1 billion amid security risk
05.12.2019
China’s Zijin Mining Group Co Ltd (601899.SS) (2899.HK) has agreed to buy Canadian miner Continental Gold Inc (CNL.TO) for C$1.3 billion ($1 billion), but a top executive with the target company said elevated security concerns in Colombia pose a risk to the deal. State-backed Zijin’s offer for Continental, announced on Monday, aims to secure Continental…
Ecuador opens first large-scale gold mine with Canada’s Lundin
03.12.2019
Canadian miner Lundin Gold Inc (LUG.TO) inaugurated its Fruta del Norte gold mine in the Ecuadorean Amazon on Thursday, as market-friendly President Lenin Moreno seeks to attract mining investment to diversify the stagnant oil-dependent economy. The mine, whose proven reserves include some 4.8 million ounces of gold and 6.3 million ounces of silver, is expected…
Exploration resumes at Newmont-funded Colombia project
01.12.2019
Exploration will resume on the Newmont Goldcorp-funded Lyra project, after a force majeure condition relating to security in Colombia has been lifted, TSX-V-listed Outcrop Gold reported on Wednesday. Lyra lies between Continental Gold’s Buritica and Orosur Mining’s Anza projects and Outcrop Gold believes the project captures the ‘Buritica trend’, which is a 30 km extension…
Eric Sprott invests C$15 million in Gran Colombia
28.11.2019
Gran Colombia Gold says Eric Sprott will invest C$15 million in the company that has two producing mines in Colombia. The company will issue approximately 3.3 million units at a price of C$4.60 per unit. The price represents a 4% discount to the five-day volume weighted average for the period ended Oct. 29, 2019. Each…
Chinese mining contractor & EPC services provider JCHX takes stake in Colombia’s Cordoba Minerals
27.11.2019
Cordoba Minerals Corp has announced that Chinese mining contractor and EPC major JCHX Mining Management Co Ltd (JCHX) has agreed to make a strategic investment in the company, acquiring a 19.9% stake in Cordoba to advance the San Matias copper-gold-silver project in Colombia. Under the terms of the strategic cooperation and investment agreement signed on…
Rugby Mining Initiates Field Work in Bucaramanga Region, Colombia
26.11.2019
Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG) is pleased to announce that field work is underway on its prospective Pastora and El Playon gold concession applications near Bucaramanga, Colombia. Rugby geological teams have recently been conducting detailed ground proofing of strong geochemical anomalies delineated on Pastora and El Playon. This work program commenced…
The US and CIA’s covert intervention in Bolivia
21.11.2019
It will be sufficient to read Eduardo Galeano’s “Open Veins of Latin America” to understand why Bolivia’s state President Eva Morales resigned. Like Hugo Chavez, he too had taken steps aimed at changing his country’s fate. He strove for 14 years in office as president with all his might to increase the level of welfare…
Chile´s mining industry operating normally despite violent protests: minister
19.11.2019
Chile´s mining industry was running as normal despite the violent protests that have rocked the capital, Santiago, and other cities across the world´s top copper producer, Mining Minister Baldo Prokurica said on Sunday. The protests over an increase in public transport costs prompted President Sebastian Pinera to reverse the fare hikes and declare a state…
Chile economic activity growth 3% amid sluggish mining performance
Chile’s economic activity rose 3.0% in September from the same month a year ago, the central bank said on Monday, bolstered by rises in the construction and service sectors even as expansion in its key mining industry remained sluggish. The IMACEC economic activity index encompasses about 90 percent of the economy tallied in gross domestic…
Peru lets Southern Copper keep building $1.4bn Tia Maria mine
12.11.2019
The Peruvian government confirmed on Wednesday it had given Southern Copper (NYSE: SCCO) permission to resume construction at its $1.4 billion Tia Maria project, in the southern Islay province of the Arequipa region. The world’s fifth largest copper producer by output had to cancel work in August, after authorities suspended the construction licence to evaluate…
