KGHM says Chile protests, potential tax changes could impact business

As the global demand for base metals grows, the mining industry is on the hunt for new deposits that can be developed into operating mines.

Molymet's decision is yet another setback for Chile, which has struggled to modernize its mining policy and develop a domestic battery industry.

Mining, crown lease, construction and operating permits are to be filed in 2019.

Unionized workers rejected on Saturday the miner’s final contract negotiation offer and announced that they will vote on a proposal to go on strike.

The Vancouver-based company says there is potential to discover a sizeable porphyry style copper-molybdenum-silver deposit on the property.

Supported metal prices, debts being slashed, and production efficiency growth were the keys for the good performance.

The Phoenix-based company posted first quarter net income of $31m, compared with net income of $692m in the year-ago quarter.

The property is a potential producer of copper, gold and molybdenum.

Members of the community of Tacrara were demanding compensation for the use of a road that, according to them, Hudbay’s trucks were not supposed to be using.