If rubber-stamped by the senate, the move would give state-run KGHM a bit more room to breathe, as the miner has been struggling with rising costs, falling copper prices, technical problems and higher-than-expected capital spending in the past years.
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The miner is partnering with GoldSpot Discoveries to produce 2D and 3D targets for its upcoming exploration program.
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Speaking on the sidelines of the World Copper Conference held this week in Santiago, chief executive Iván Arriagada said the company will only go ahead with the project if it meets Antofagasta’s return criteria.
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In 2017, Chile’s Superintendency of Environmental Affairs filed a notice saying the campaign violated the country’s environmental regulations.
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Reconnaissance exploration identified boulders in streams that contain up to 11.9% copper with 166g/t silver.
The post Aurania finds high-grade copper and silver at the Lost Cities – Cutucu project in Ecuador appeared first on MINING.com.
The miner has found further mineralization at its Cascabel copper-gold project as it continues exploration work.
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The area around Los Bronces copper mine hosts 30% of Chile’s copper resources and 10% of the world’s. It’s also home to about 80% of South America’s glaciers.
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Due to the conflict, some 8,000 people were being prevented from working at the mining complex.
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The full $1.3 billion project cost is being debt financed by Los Pelambres.
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Move is aimed at providing a tool for institutional investors to assess the risk from their holdings in mining companies.
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