London-based Anglo American and Chile's state-owned Codelco have not come to an agreement, said the world’s largest copper producer Thursday, instead they have agreed to extend the talks until mid August.
Chile’s largest open pit copper mine, Chuquicamata, has officially started its conversion towards underground mining. The project will cost Codelco over $2 billion in the preliminary phase but will substantially increase production and extend the mine's lifespan.
Giant miner Xstrata has set Sep. 7 as the day for its shareholders to vote on the $26 billion takeover by Glencore, giving the commodities trader six weeks to reach an agreement on the conditions.
Vancouver junior, North American Nickel (CVE:NAN), said that its Greenland property is the remains of a gigantic, three-billion-year-old meteorite impact, and displays a similar geological formation found in the Sudbury Basin.
Codelco possess 9% of the world's known copper reserves and the A+ rating reflects Codelco's total ownership by the Government of Chile and its strategic importance to the country.
Canadian miner Teck Resources has temporarily withdrawn the Social and Environmental Impact Assessment application for its $5.6 billion Quebrada Blanca II expansion project in northern Chile.