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When the dollar gets weak, gold prices soar, according to conventional wisdom. That's been the case over the last year, and global mining firms are racing to mineral-rich Latin America for a piece of the action.

Vista Gold, a U.S. gold miner, agreed to sell its Amayapampa gold mine in Bolivia to Luzon Minerals, a Canadian miner. Luzon will pay Vista US$100,000 in cash and 2 million of its shares, followed by another $850,000 payment either in cash or half in cash and half in equity.

Ross River Minerals, a Canadian mining company, reached an agreement with Almaden Minerals, another Canadian miner, to buy 100% of the El Pulpo gold mine in Sinaloa, Mexico. Ross River will pay Almaden in its own equity based on output levels.