The proposed tax, to be applied on the nominal value of extracted metals, would affect copper miners that produce more than 12,000 tonnes of the metal and those extracting 50,000 tonnes of lithium a year.
Company won’t have to cut output at its central BC-based copper-gold mine, at least for now, as it has been granted approval to use certain short-term water sources.
South African miner Gold Fields Ltd aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240 million.
Other companies interested in partnering with Teck include Freeport-McMoRan, China’s Aluminum Corp of China (Chinalco) and Canada’s base metals miner Lundin Mining.