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.
Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.