Chinalco could invest $426 million in Suriname bauxite project
If approved by parliament, Chinalco could begin construction by the middle of next year.
Los Bronces mine is perched 3,500 meters high up in the Andes, 65km north-east of Chile’s capital, Santiago.
Chile’s environmental watchdog imposed Tuesday a US$6.2 million fine to Anglo American’s (LON:AAL), Los Bronces copper mine in Chile related to breaches that caused “irreparable” damages to a nearby agricultural valley.
In an e-mailed statement (in Spanish), the Superintendence for the Environment (SMA) said the fine was calculated based on five infractions detected at the operation and the mine’s facilities in 2013 and 2014, including acid drainage from a dump site and failure to monitor water quality at the mine.
The regulator also ordered the closure of that deposit until “a definitive solution that permits the adequate drainage of acids generated by the project is implemented,” it said in the statement.
Los Bronces, perched 3,500 meters high up in the Andes 65km north-east of Chile’s capital, Santiago, produced 404,500 tonnes of copper last year, roughly 7% the South American nation’s overall output.
Anglo owns 50.1% of the operation. Chilean state miner Codelco and Japanese trading houses Mitsui & Co. and Mitsubishi Corp. also have stakes in the complex.
