A fire at its Spence copper mine in Chile had forced it to partially shut down operations. No one was injured in the fire, which has since been extinguished.
Chile Mining News
The Maricunga project in northern Chile has seen significant past exploration, with over $30 million spent to date.
The proposed tax, to be applied on the nominal value of extracted metals, would affect copper miners that produce more than 12,000 tonnes of the metal and those extracting 50,000 tonnes of lithium a year.
The copper mine Collahuasi in Chile is expected to produce 545,000 tonnes of copper this year, 4 percent more than in 2017.
Other companies interested in partnering with Teck include Freeport-McMoRan, China’s Aluminum Corp of China (Chinalco) and Canada’s base metals miner Lundin Mining.
Partners may lose their right to develop the Mt Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases.
Chuquicamata, the company’s second largest copper operation by size, is expected to transition to underground block cave mining by mid-2019.
Chile produced 481,700 tonnes of copper in July, an increase of 2.9 percent compared to July 2017.
The court is scheduled to hear the details of the settlement agreement on Sept. 13, and is slated to make a decision on the case by Oct. 4, the FNE said in a statement.
Environmentalists say that glaciers close to mining sites could melt more rapidly.
Among the investments, it referenced two new lithium mining projects, three copper and one gold, totalling $5.9 billion.
The company expects to produce approximately 1.7 mln tonnes of copper in the whole of 2018.
The 83 workers of the Plantas de Andina union began a strike on Aug. 20 after contract negotiations over salaries and bonuses failed.
In Chile, threats of a government crackdown on over-usage of water often ring hollow. Mines need water, and the country´s copper-driven economy needs mines.
Canada's largest diversified miner said that before beginning the copper mine upgrade, it would have to secure a development partner able to invest $2billion for up to 30% to 40% stake in the project.
The company received environmental approval for the plan earlier this month, which aims to extend the life of the aging deposit and boost production.
More than 80 unionized workers of the Plantas de Andina union went on strike a week ago.
Expansion and upgrades would extend the mine’s life by 21 years.
But the world's second largest producer said they will remain higher than the average reached last year.
Chile is preparing major new restrictions on the extraction of water from the lithium-rich Salar de Atacama salt flats, home to top lithium miners Albemarle and SQM.
Chile's gross domestic product grew 5.3 percent in the second-quarter of 2018 which is its biggest jump in nearly six years.
Ivan Arriagada, chief executive of Antofagasta, said he expected copper prices to be affected by global uncertainty.
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Main mine union accepted an adjusted contractual offer, which marks the end of the negotiation process and removes the threat of a strike.
HEPS for continuing operations remained unchanged at $0.08 per share for the six months ended June 30, 2018 compared with the same period last year.