Phoenix-based copper giant want to to sell its Candelaria copper-gold mine to Canada's Lundin Mining.
Pre-tax profit dropped 27% in the first half to $1.3 billion.
The country’s legislators approved this week a ruling that declares the region surrounding the mine a national park, affecting Glencore's ability to expand it.
Around 15,000 of the total 55,000 licences in effect risk fines and even losing all privileges over the land.
Chinese backers are now behind one-third of all Peru’s new mining investments by value.
The news comes only a day after MMX announced it was temporarily halting operations at its only producing mine.
The project is considered vital for Vale as the miner has been losing market share to Rio Tinto and BHP Biliton.
Jean-Paul Luksic, who was appointed in 2004, will now take a non-executive role with effect from Sep. 1st.
Increased output from its mines in Peru and Argentina also helped the company slash first-half interim loss.
Shares in the company fell by almost 8% on the news, hitting an all-time low.
The Peruvian firm will develop the deposit as an underground mine, instead of as an open-pit project.
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.
After the WHO declared the current outbreak an “international public health emergency.”
Currently Vale supplies 12% to 14% of China’s consumption of the steel-making ingredient.
Japan already allocates 90% of its investment in Chile to mining.
This is the third project in the past four moths to be given the go-ahead after an initial unfavourable ruling.
The mine is expected to produce 120,000 tons of copper a year during its 20 years of mine life.
The ex-billionaire will remain the largest shareholder of the firm he founded in 2005.
Nelson Pizarro (73) will carry out the biggest investment plan in Codelco’s history.
But prediction of a rise above $100 a tonne in the "near future" may not be enough for smaller producers as the big three flood markets.
They would be going for the northern portion of the massive iron ore deposit, seized from Israeli billionaire Beny Steinmetz and mining giant Vale in April.
Division encompasses the Spence and Cerro Colorado copper mines.
The miner poured the initial dole bar at a weight of 100 kilograms containing an estimated 317 ounces of gold.
Frederic Cilins, a French businessman who worked as an intermediary for BSGR in Guinea, became the first person to receive a criminal sentence in a corruption investigation.
Hundreds of thousands have died over the years at the city's main silver mine, as a direct result of cave-ins, overwork, hunger and disease.
The company says its future depends on the Andina mine expansion, as dwindling ore grades in its old mines are expected to bring annual output down.
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