The company has no predictions as to when the strike may end or how production will be impacted.
Despite the gloomy results, the commodities giant revenues for the year jumped 9% to $232.6 billion
Far from being good news, the resolution orders Chile's environmental watchdog to charge Barrick for each and every of the 22 violations found in the project, instead of grouping them into five categories as it did the first time.
Despite quarterly loss of $584m, the $8.5 billion share is up 23.5% year to date and enjoys a higher valuation than gold miners producing millions of ounces more per year.
The copper giant is having a rough start of the year with sinking copper prices, lack of cash and escalating costs.
"We are not happy," said CEO Mark Cutifani.
Net loss for the entire year climbed up to a monster $10.37 billion.
This was the first production report since the Anglo-Swiss firm completed the acquisition of Xstrata last May.
Peruvian copper projects are solid, competitive and less costly in terms of energy needs, says the expert.
The company, one of the largest “pure play” copper miners, aims to extend its portfolio.
While the junior sector keeps attracting foreign investment, about $40 billion large-scale projects have been put on ice or postponed, study reveals.
But it also recommends an exhaustive review of the permit issued in 2006, as well as the miner’s glacier monitoring plan.
The company needs a cash injection to counter declining ore grades at its aging mines, as well as increasing costs vs low copper prices.
It’d be the first time Chile’s copper output exceeds the 6 million tonnes.
Film company is in Chile to recruit about 1,000 background actors and extras needed to replicate Camp Hope in the Atacama Desert.
Argentine authorities are requesting a meeting with incoming President of Chile, Michelle Bachelet, who takes office in March.
Strike has already sliced $130 million off the miner's December income.
Predictions of a hard landing in China will not pan out and global emerging market growth will accelerate in 2014 lifting demand for metals and minerals.
Moderating Chinese manufacturing growth and worries about new supply give pause to the bulls.
But cost is twice more expensive than in the United States.
Overall this year copper slipped 7.4%, but the losses were more modest than many anticipated.
New mining listings in the Toronto Stock Exchange and its junior counterpart, the TSX-V, continue to dive.
Additional financing aims to help the world’s No. 1 copper producer move forward with its decisive investment plans.
800 striking workers at the giant copper mine in Chile returned to work on Saturday.
Vale got $25 million for the mines, way below the $200 million it had invested on them.
The company is cutting its Argentine work force as Chileans work on water treatment facility.
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