The world’s second largest iron ore miner is targeting a 18% output increase this year, adding to a mounting global glut that has driven down the commodity price.
With Duluht’s acquisition, Antofagasta takes control of the Twin Metals project, located in north-eastern Minnesota, which is set to become its first operation outside Chile.
The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.
Beleaguered Imperial Metals (TSX:III), whose Mount Polley mine in central British Columbia breached a tailings pond last summer, has submitted a plan to restart the copper and gold mine.
