Investors worry a referendum on mining in Imbabura, the province in which its flagship Cascabel copper-gold project is located, could jeopardize the mine's future.
Zambia says its decision to punish miner Vedanta's local operation for breaching environmental and financial regulations is a signal to other firms to follow the law.
President Edgar Lungu has swiftly followed through on his threat with a move to liquidate Konkola Copper Mines (KCM), the local operating unit of India's Vedanta and one of the country's biggest producers.
Eurasian Resources Group and China Non-Ferrous Metals Co. expressed interest in buying Konkola Copper Mines, should the Zambian government succeed in seizing it from Vedanta.
Codelco Chief Executive Nelson Pizarro said in a presentation on Friday that regulatory hurdles were only adding to problems that have long plagued Chile's mines.
The Canadian miner said that being able to enter Torrubia provides access to approximately 1.9 kilometres of strike with the widest and strongest soil copper geochemistry in the north part of the Torrubia trend.
