The giant copper miner is also planning to sell about $8 billion of bonds over the next five years to help finance a nearly $30bn investment program aimed to revamp its aging mines.
The firm is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces of gold resources (only two of the deposits have resource estimates on them).
The country’s environmental authority criticized the Top Court decision saying the miner conducted proper consultation with local indigenous groups and shouldn’t have to do it again.
The shine may soon come off Chile's decade-long copper boom as technical and regulatory problems in getting new mines into production highlight just how hard it will be to keep ratcheting up the supply.
The drop was mainly due to reduced shipments from Codelco and Collahuasi, official figures show.
AkzoNobel will present a paper at IMPC 2014, in Chile, proving a new three-component anionic collector for phosphate ore flotation that meets all the requirements for flotation efficacy and sustainability.
Chile’s government will seek talks with large-scale mining companies to make more land available for smaller mineral explorers as it seeks to expand the copper industry, the world’s largest.
Once again the mining giant's $3.9 million project can't move forward until local indigenous groups who oppose it are better consulted.
In the official opening the firm said it expected to start shipping from Sierra Gorda in November
The massive figure includes a recently announced $23.5 billion for state-owned copper miner Codelco to revamp century-old mines that are running out of profitable ore.
Close to 2,800 miners at Chile's Escondida mine, jointly owned by BHP Billiton and Rio Tinto, did not show up for work Monday morning, iddling a 1.2 million tonnes a year operation.
Polar Star Mining Corporation and Iron Creek Capital Corp. are pleased to announce that they have agreed in principle to merge the two companies via a statutory amalgamation, plan of arrangement or similar shareholder approved transaction (the “Transaction”), which will result in Polar Star acquiring all of the outstanding common shares of Iron Creek.
News of labour action at world's largest copper mine sends red metal 2.6% higher.
Productivity, followed by capital decisions and obtaining a social license to operate, are among the top risks global mining and metals companies face.
Colbun hopes to keep the massive $9 billion HidroAysen power project alive.
A 25-year-old female truck driver died when her vehicle flipped over near Antofagasta Minerals' Los Pelambres copper mine.
From the 5.8 million tons of copper produced last year, 1.2 million tons came from operations that are facing closure or conversion in 10 years.
Authorities say the firm violated 16 environmental rules at El Soldado copper mine, located about 130 km northwest of capital Santiago.
Tension has been a feature of the copper market since the middle of last year but, so far, the net result has generally been stalemate and prices have moved sideways.
Deutsche Bank analysts foresee a 2% to 3% earnings increase for the miners.
Pre-tax profit dropped 27% in the first half to $1.3 billion.
Jean-Paul Luksic, who was appointed in 2004, will now take a non-executive role with effect from Sep. 1st.
He sees it as a key part of the firm's ambitious investment strategy, which in the next stage will plow $25 billion to overhaul older mines.
Mines in Australia and Dominican Republic put on care and maintenance and Canadian operations' reserves depleted during first half of the year.
Japan already allocates 90% of its investment in Chile to mining.
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