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Released April 19, 2023 | SUGAR LAND
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Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Chile granted an environmental permit and allowed an extension to Anglo American plc's (London, England) Los Bronces copper mine earlier this week, despite protests from local groups. On Monday, a committee of Chilean ministers voted to approve an extension and environmental license for Los Bronces, which is estimated to spur investments of about US$3.3 billion.
Los Bronces is an open-pit copper mine in Los Andes, between Santiago and the Valparaiso regions, and it is operated by a consortium composed of Anglo American (50.1%), Codelco-Mitsui (29.5%) and Mitsubishi Corporation (20.4%). Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more from detailed project reports on the mine and its extension, and a plant profile.
The decision overrides a rejection of the permit in May 2022 by the Chilean Service for Environmental Evaluation.
Some of the details included in Anglo American's proposal were the extension of the lifetime of the mine until 2036, with a maximum processing rate of 180,000 tons per day, no extension to the current processing plants, better water treatment and sublevel stopping.
Following the decision, environmental groups protested outside Chile's Ministry of Environment, criticizing the government's actions and alleging the project would have a negative impact on the environment, specifically air pollution, water and glaciers, according to videos and images shared on social media and TV.
Anglo American, for its part, welcomed the government's decision. The company committed to compensating 150% of the emissions the project releases each year and to conserving the local environment and parks.
Patricio Hidalgo, the director of Anglo American in Chile, said the project's approval pointed toward "a new way of mining that adapts to climate change and reduces its environmental footprint."
Hidalgo added: "Los Bronces Integrado reflects the profound transformation process that we have promoted at Anglo American, and we are convinced that it will be a contribution, both for Chile and for our neighboring communities, since it will bring substantial benefits to the inhabitants of Santiago, contributing to improving the quality of the air and to protecting the biodiversity of the environment."
Meanwhile, Chile's National Mining Association (SONAMI) also lauded the government's decision, saying it would promote further investments in the sector in a critical time.
"We must promote mining investment due to its multiplier effect, and because the investment we make today is the basis for future growth," said Cristian Argandoña, president of SONAMI. "In this reference, with the current tax regulations, for each additional million tons of production, the contribution to fiscal financing would exceed US$1.3 billion."
Last year, Anglo American produced 270,900 tons of copper at the Los Bronces mine, about 17% down from the previous year. The output in the fourth quarter was 84,300 tons, considerably higher than in the first three quarters. Following the approval of the permit, the company will be allowed to continue operations at the mine for the next 13 years.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Los Bronces is an open-pit copper mine in Los Andes, between Santiago and the Valparaiso regions, and it is operated by a consortium composed of Anglo American (50.1%), Codelco-Mitsui (29.5%) and Mitsubishi Corporation (20.4%). Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more from detailed project reports on the mine and its extension, and a plant profile.
The decision overrides a rejection of the permit in May 2022 by the Chilean Service for Environmental Evaluation.
Some of the details included in Anglo American's proposal were the extension of the lifetime of the mine until 2036, with a maximum processing rate of 180,000 tons per day, no extension to the current processing plants, better water treatment and sublevel stopping.
Following the decision, environmental groups protested outside Chile's Ministry of Environment, criticizing the government's actions and alleging the project would have a negative impact on the environment, specifically air pollution, water and glaciers, according to videos and images shared on social media and TV.
Anglo American, for its part, welcomed the government's decision. The company committed to compensating 150% of the emissions the project releases each year and to conserving the local environment and parks.
Patricio Hidalgo, the director of Anglo American in Chile, said the project's approval pointed toward "a new way of mining that adapts to climate change and reduces its environmental footprint."
Hidalgo added: "Los Bronces Integrado reflects the profound transformation process that we have promoted at Anglo American, and we are convinced that it will be a contribution, both for Chile and for our neighboring communities, since it will bring substantial benefits to the inhabitants of Santiago, contributing to improving the quality of the air and to protecting the biodiversity of the environment."
Meanwhile, Chile's National Mining Association (SONAMI) also lauded the government's decision, saying it would promote further investments in the sector in a critical time.
"We must promote mining investment due to its multiplier effect, and because the investment we make today is the basis for future growth," said Cristian Argandoña, president of SONAMI. "In this reference, with the current tax regulations, for each additional million tons of production, the contribution to fiscal financing would exceed US$1.3 billion."
Last year, Anglo American produced 270,900 tons of copper at the Los Bronces mine, about 17% down from the previous year. The output in the fourth quarter was 84,300 tons, considerably higher than in the first three quarters. Following the approval of the permit, the company will be allowed to continue operations at the mine for the next 13 years.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
