Brazilian mining giant Vale signed a settlement deal on Thursday to pay 37.7 billion reais (US$ 7 billion) to the state of Minas Gerais, following the collapse of a dam two years ago that devastated the city of Brumadinho and killed more than 270 people.
The Argentine Chamber of Mining Entrepreneurs (CAEM) reported that the country’s mining output fell by 70% y-o-y in 2020 due to the effects of the Covid-19 pandemic. CAEM also said that small and medium-sized mining operations, which tend to be family-owned, saw a 40-50% fall in production.
Producer price inflation in Brazil jumped to its highest on record in October, figures showed on Thursday, led by another month of rising food prices, which will likely stir the debate further on the wider outlook for inflation and interest rates.
Chile’s economic activity sank 5.3% in September year-on-year but grew 5.1% from the previous month, the central bank said on Monday, as the world’s no. 1 copper producer emerged from the worst period of the coronavirus pandemic.
Ecuador unveiled new, tighter regulations for the design and construction of mining waste dams, seeking to avoid disasters like the tailings dam collapse that killed hundreds at a Vale site in Brazil last year.
The Brazilian municipality of Parauapebas, in the state of Pará, which houses part of the Serra dos Carajás, where the largest open-cast iron ore mine in the world is located, will carry out mass testing for Covid-19, reaching about half the population.
Production in Peru’s mining sector will fall by at least 15% this year, representing a loss in revenues of up to US$ 5 billion, due to disruptions caused by the coronavirus pandemic, a top mining executive said on Wednesday.
Brazil’s government said it was pushing ahead with plans to allow mining on tribal lands, briefing European diplomats on proposals that have drawn criticism from indigenous advocates in Brazil and overseas.
A controversial mining law that sparked massive protests in the province of Mendoza in Argentina’s western-central region was finally abolished. The province's governor Rodolfo Suárez presented a formal request before the legislature on Monday, and with 34 votes in favor and 2 against, the Senate approved the annulment.
Brazil’s President Jair Bolsonaro said on Thursday that a bill authorizing mining on protected indigenous reserves was ready and only needed to be sent to Congress for consideration.