The Swiss firm will make mining royalty payments to Dan Gertler in euros so that it doesn’t fall foul of US sanctions, which were placed on the Israeli billionaire last year.
Decision gives 18 months more than planned to the operation, which would result in additional production of 470 million pounds of zinc and 52 million pounds of copper during that period.
The new rules are a clear effort to improve the current legislation as seamlessly as possible, but in close attention to the international industry dynamics and to a number of other sensitive issues (such as environmental recovery and security).
