Chilean think-tank says Codelco pays more taxes but extracts less copper than private companies
Mining News Pro - A recent report by Chile’s Center for National Studies of Alternative Development (CENDA) shows that, between June 2021 and June 2022, Codelco was responsible for 30% of the country’s annual copper production and contributed 7.6% of the mining tax revenue while private companies extracted 70% of the copper and contributed 5% of tax revenues.
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Visit: 137
Rio2 appeals rejection of EIA for Chile gold project
Mining News Pro - Canada’s Rio2’s is appealing the rejection of the environmental impact assessment (EIA) for its Fenix gold project in Chile’s northern Maricunga region, arguing the dismissal is not consistent with the environmental assessment process that took place over the past two years.
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Workers at Chile’s Escondida copper mine threaten to strike
Mining News Pro - Workers at BHP’s sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine’s union said.
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Gold Fields bolsters Chile presence with investment in Torq Resources
Mining News Pro - Torq Resources has welcomed Gold Fields as its new strategic investor after announcing a C$15 million private placement with a wholly owned affiliate of the NYSE-listed miner. The companies have also entered into an investment agreement that entitles Gold Fields to a pre-emptive right to maintain its stake in Torq.
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More study needed to explain origin of Chile sinkhole, says Lundin unit president
Mining News Pro - Multiple factors could have caused a sinkhole near a copper mine in Chile owned by Canada’s Lundin Mining, the president of the miner’s local unit said, disagreeing with a government assessment that it was likely responsible for the phenomenon.
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Visit: 172
Cracks detected around land near mine and sinkhole in Chile
Mining News Pro - New cracks were detected in the ground near a sinkhole around a copper mine owned by Canada’s Lundin Mining Corp. in Chile, but the company said Thursday that the cracks are unrelated to the hole or mining activity.
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Teck and Chile discuss investments
Mining News Pro - Chile’s President Gabriel Boric and the chief executive of Teck Resources, Don Lindsay, met in the capital Santiago to discuss the Canadian miner’s projects in the country, including its biggest ever – Quebrada Blanca phase 2 (QB2).
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Chile rethinks mine safety after worker deaths and expanding sinkhole
Mining News Pro - Chile is taking another look at health in safety in its mines after two workers died on a mining construction project in July and a giant sinkhole more recently opened up near a copper mine.
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Visit: 116
Sumitomo hikes Chile copper project cost estimate by 60%
Mining News Pro - Japan’s Sumitomo Metal Mining Co Ltd and Sumitomo Corp said on Monday they had raised their estimate of the construction cost for the Quebrada Blanca phase 2 (QB2) copper project in Chile to about $7.5 billion from $4.7 billion.
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Visit: 145
Chile to ‘sanction’ those responsible for sinkhole near copper mine
Mining News Pro - Chile will seek to apply harsh sanctions on those responsible for a huge sinkhole near a copper mine in the country’s north, the mining minister said on Monday.
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Chilean authorities suspend Alcaparrosa’s operations due to giant sinkhole
Mining News Pro - Chile’s National Geology and Mining Service, Sernageomin, ordered a temporary suspension of activities at Lundin Mining’s (TSX: LUN) Alcaparrosa mine following the opening of a giant sinkhole above the underground operation.
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New ways to deal with arsenic in Chile’s copper mines
Mining News Pro - German and Chilean researchers are working on a project aimed at optimizing and advancing copper production processes with a particular focus on addressing the problems posed by sulfur-based ores that contain arsenic.
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Visit: 122
Chile probes giant sinkhole at Lundin underground copper mine
Mining News Pro - Chilean authorities are investigating a giant sinkhole that opened up over the weekend above an underground copper mine operated by Canada’s Lundin Mining Corp.
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Visit: 197
Chile mining companies say there is limited room to hike taxes
Mining News Pro - Chilean mining firms believe there is room to raise taxes in the world’s top copper-producing nation, but caution that any hikes should strike a balance to avoid scaring away investments, El Mercurio newspaper reported on Saturday.
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Chile rejects second Anglo American project in two months
Mining News Pro - Anglo American (LON: AAL) has suffered a new setback in Chile after the environmental commission of Valparaiso, Coeva, rejected the company’s $40 million operational continuity project for its El Soldado copper mine, 125km north of the capital Santiago.
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Miner BHP may reconsider investments in Chile if tax hikes go forward
Mining News Pro - Global miner BHP Billiton is likely to reconsider its investment plans in Chile, the world’s No. 1 copper producer, if the government moves ahead with mining tax hikes, according to a report on Sunday.
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Chile top court ratifies closure of Canadian-owned Pascua Lama project
Mining News Pro - Chile’s Supreme Court on Thursday ratified the definitive closure of Canada-based Barrick Gold’s controversial $8.5 billion Pascua Lama gold and copper mining project, previously ordered to shutter by the country’s environmental regulator in 2018.
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Visit: 242
Chile delivers final constitution draft as skepticism runs high
Mining News Pro - Chile’s Constitutional Convention presented the final version of the charter that will be put to a referendum as a growing number of voters question the broad changes it would enact from social rights to political rules.
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Chile sticks to plan for new mining profit tax up to 32% linked to copper price
Mining News Pro - Chile’s finance minister, Mario Marcel, on Friday introduced a tax reform bill that increases copper mining royalties on companies that produce more than 50,000 tonnes a year and raises taxes on high-income earners to fund the government’s proposed social programs and reforms.
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Three Chilean communities maintain protest against Los Pelambres copper miner
Mining News Pro - Three communities in Chile’s High Valley of Salamanca remain in conflict with Antofagasta’s (LON: ANTO) Los Pelambres copper miner.
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Copper price rises as looming strike in Chile adds to supply worries
Mining News Pro - The copper price rose on Tuesday on concerns about an expected strike in top producer Chile.
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Visit: 391
Codelco unions ready strike after troubled Chile smelter shuttered
Mining News Pro - Workers at Chilean state-owned miner Codelco, the world’s largest copper producer, said on Saturday they will start preparations for a national strike after the firm announced the closure of the troubled Ventanas smelter.
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Visit: 460
Moody’s warns Chile constitution uncertainty could hit mining investment
Mining News Pro - Investment in Chile’s mining sector could face gridlock if political uncertainty over a new constitution is not resolved, ratings agency Moody’s said on Wednesday, a reflection of industry concerns in the world’s top copper producing nation.
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Visit: 307
Antofagasta provides resource estimates for Encierro, Cachorro deposits in Chile
Mining News Pro - During the 2022 Prospectors and Developers Association of Canada (PDAC) conference in Toronto, Chilean multinational Antofagasta plc announced the inaugural resource estimate on the Encierro project and a resource update on the Cachorro project.
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Visit: 320
Chile and Ecuador restart copper talks after yearslong impasse
Mining News Pro - After a yearslong deadlock, Ecuador and Chile have resumed negotiations over a partnership to develop a major copper deposit just as demand for the wiring metal is set to surge in a nascent clean-energy transition.
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Visit: 296