[INFOGRAPHIC] Mining activity in Latin America: 2015
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The region shares 26 percent of the total capital raised in the first two quarters of 2015. Latin America also had one of the largest shares of total global exploration budgets in 2014, accounting for over 26 percent of the total budget, with its portion amounting to $2.86 billion.
The following infographic showcases Latin America’s mining activity in 2015.
Copper claimed the top spot in terms of projected or planned capital investments reported in 2014, followed by iron ore. Most of these capital investments are for assets in Chile, where copper production helped push the commodity to the top spot in terms of having the largest commodity revenue in 2014 for Latin America.
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Going by the most recent reserves and resources in situ values, iron ore is the commodity that has the largest resource value, followed by copper. Chile and Brazil are the largest contributors when considering resource values by country.
Reported drilling activity in the region increased in the second quarter of 2015 compared with the previous quarter, although significant drill results were down slightly. Gold continues to be the leading commodity in Latin America when it comes to number of holes drilled with significant drill intervals.
Unmanned train to allow Vale to reopen iron ore plant
Brazilian miner Vale SA will be able to resume operations at its Timbopeba iron ore dry processing plant in up to two months thanks to the use of an unmanned train, the company said in a statement this week.
Vale - Timbopeba iro ore plant
With the train, Timbopeba will be able to operate at least at 80% of its capacity of 33,000 tonnes of iron ore “fines” per day, reports Reuters.
Vale was forced to shut down the plant in the Alegria mine complex recently after labor authorities in Minas Gerais state banned activities close to the Xingu dam due to concerns of a risk of collapse.
Vale said access by workers and vehicles continues to be suspended in the flood zone of the dam due to the ban even though it remains at emergency level 2, which means there no imminent risk of rupture.
But some workers are allowed entry under strict security precautions and they will get the unmanned train going once it has been tested, which would take between one and two months, the company said.
The unmanned train will travel automatically along 16 kilometers (10 miles) of track operated by a system that can control the speed and activate the brakes, Vale said.
Vale announces first ore at Voisey’s Bay mine extension
Vale has reached the milestone of first ore production at the Reid Brook deposit at the Voisey’s Bay mine expansion project in Northern Labrador, Canada - recognised as the safest mine in Canada.