BHP Billiton in ‘advanced’ talks to sell Cerro Colorado copper mine in Chile
The company has officially informed workers of its plans to offload the mine, noting that while there are several interested parties, the process could take months.
According to the Peruvian Institute of Economy, while the mining sector was responsible for 19% of total private investments in 2012, it now accounts only for 10%.
In its Q2 report, the Canadian miner said the halt followed continued operational performance issues due to low productivity rates and equipment and operator availability from the mining contractor.
Inflation data in Germany and Japan and statements from European and US central bankers suggest that rapid, economically damaging interest rate rises will continue.