The Chilean government has removed BHP Billiton's US$4 billion Spence copper expansion project from its 10-year development timeline, saying it expects the world's largest miner will miss its targeted deadline of first production by 2020.
Chile, the world’s biggest copper producing country, has warned that the global resources sector needs to pay far more attention to its environmental and social licence obligations if new projects worth billions of dollars are to get up.
The increasing engagement of Latin America with Asia may potentially be at the expense of Australia’s traditional sense of right to be a major Asian player, expert says.
The recurring phenomenon — a warming of the Pacific Ocean as part of a complex cycle linking atmosphere and ocean — has in the past affected mine output, triggering price spikes.
The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.
The environmental watchdog said the fine was calculated based on at least five infractions detected at the operation and the mine's facilities.
Catherine Raw, from one of the UK mining sector's best known fund managers, is assuming as the company's Business Performance Executive Vice President.
Torrential rain in Chile's desert region and environmental protests dented first-quarter output, forcing the miner cut its annual production forecast.
As much as three quarters of investors voted in favour of a non-binding motion to change the way the gold giant compensates its executives.
The company, dealing with aging mines, has been leaning on a wide range of new technologies to reduce operating costs and increase efficiencies.
Chinese companies, private equity firms including Mick Davis’s X2 Resources, and even Teck Resources are rumoured to be among the potential buyers.
The Canada Pension Plan Investment Board will vote against the gold miner’s executive compensation structure next week.
La Serena appeals court unanimously rejected a lawsuit presented by locals, which claimed the massive tailing dam had dried up a nearby stream and contaminated underground water.
The global miner trimmed its forecast from 32m-34m carats to 30m-32m because of “current trading conditions”.
The country's Superintendence for the Environment (SMA) also said the miner has not properly monitored the impact on nearby glaciers.
The plan seeks to tackle an almost yearlong delay in the project to turn century-old Chuquicamata open pit mine into an underground operation.
$5 billion a year for five years will merely replace exhausted mine capacity says CEO of world's largest copper company.
But China’s slowdown, rising costs and falling prices may get in the way.
Two new deposits extend mine life at Chile mine bought for $1.8bn by 190,000 tonnes contained metal and three years.
Mostly due to a lower estimate from Anglo American's projects and the Zaldivar mine, which is operated by Barrick.
Among other applications, Codelco is interested in implementing worker location services and remote equipment assessments.
While miners operating in the affected area did not reported any serious damage, blocked roads forced some to halt operations and the final costs remain to be seen.
Toronto-based gold miner at this time does not anticipate impact to regional production guidance after freak floods damage its Maricunga mine.
After a freak storm and flooding in Chile’s Atacama Desert temporarily closed one of the world’s leading lithium operations, fears of further supply squeezes and upward price pressure this year have been allayed after operations resumed.
Copper down nearly 2% as torrential downpour that shut many of the country's biggest mines is not expected to impact oversupplied market.
The company said the suspension of operation at the copper is momentary, as northern Chile is being hit by torrential rain and snow.
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