Chile-focused miner also expects costs to rise on tailings dam expenditure.
Chile Mining News
The parties have agreed not to release the transaction price.
"Water demand will increase because it will be necessary to process more material to obtain the same amount of copper": Wood Mackenzie.
Agency also cut a 2013 fine for violations to $11.5 million (7 billion Chilean pesos) from the previous $16 million it had charged Barrick Gold, but later forced to review by an environmental court.
Decision doesn’t mean the miner has abandoned plans to capitalize on the electric-car boom, sources familiar with the matter say.
Codelco will invest $250 million to modify the shape of the current pit.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.
The bulk of new capacity would come online in 2019.
Markets where technology hasn’t substantially shortened the supply cycle and where cost are rising (ie copper) have the greatest long-term upside in prices
Ninth gain puts red metal on longest winning streak since 2004.
The Madrid-based firm signed a $20-million-dollar contract.
Union No. 1 was asking for a bonus scheme that would put the organization on equal footing with the Quebrada Blanca's two other unions.
Chilean miner Antofagasta Plc said on Wednesday it had reached a new wage agreement with unionized workers at its Centinela mine.
There is a lot at stake for Potash Corp, which purchased its interest in SQM piecemeal a decade ago and could stand to earn billions in the transaction.
Copper forecasters are reassessing their projections as the top-producing country prepares for its busiest year ever for wage talks.
This is the second deal the Chilean miner signs with Vancouver-based Evrim Resource.
Union at Teck Resources' Quebrada Blanca copper mine in Chile set to strike after contract talks mediated by the Chilean government failed to reach deal.
Chilean mines will negotiate contracts with 32 unions next year, representing about three-quarters of the country’s copper output, or about one-fifth of world production.
About 150 workers will be pre-selected as a result of the process, which closes on Dec. 24. They’ll join the over 1,100 employees already working on the much-needed project.
“A lot of people including myself are promoting the idea that Nelson continues on as CEO for a couple of years if possible,” said chairman Oscar Landerretche.
Chinese firms have shown “broad interest” in buying PotashCorp’s stake in the Chilean lithium producer SQM, according to chief executive Jochen Tilk, who declined to name interested parties or the number of bids the company has received.
Representatives of major mining companies believe the global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong.
Codelco Chief Executive Pizarro said company produced 1.24m tonnes of copper in January-to-September period, a 3 percent decline from same period last year.
Union claims BHP has laid off about 3% of the mine's workforce without a "legitimate reason."
Officials for the world’s largest copper mine say they are “adjusting production processes.”