The $3.3 billion project has been criticized for its impact on water availability in the populous capital region.

Antofagasta has released the inaugural resource estimate on its Encierro project and a resource update on the Cachorro project.

Codelco last week said it stopped its Ventanas smelter and refinery to carry out maintenance after authorities declared an environmental emergency.

Pre-construction work at the Curipamba-El Domo copper and gold project is expected to begin this year and construction in Q2 2023.

Colombia has been trying to diversify its mining sector away from thermal coal.

Creditors rejected the company's last proposal on April 18 and filed an alternative plan a month later.

Argentina said it would introduce a new optional tax regime for copper producers that could potentially lower export duties.

Oil and mining combined provide more than 50% of Colombia's monthly exports, according to government figures.