The country's Environmental Court handed Monday a major victory to Barrick’s besieged Pascua-Lama gold, copper and silver project, straddling the border with Argentina.
There are a number of challenges South32 is likely to face, including potential Black Economic Empowerment ownership concessions and power price hikes.
The regulation forces mining companies to consider the possibility of a tailings disaster and evaluate the environmental, health, social and economic impacts of an accident.
The copper price recovered from a one-month low on Wednesday to gain 3% on Thursday, as the metal markets reacted to a dovish Fed statement and news out of Indonesia that production has stopped at the Grasberg mine.
PNG landowners have submitted a position statement, outlining “irreparable losses” as a result of social, economic and environmental damages allegedly caused by the operation.