ICMM steps up game for miners with membership requirements update
Last updated in 2003, the fresh set of principles respond to increased pressure for miners to carry out socially-responsible investments and operations.
According to research house Wood Mackenzie, the need for investment is becoming desperate in zinc and lead and will be a major issue in the copper sector in the next few years.
A month after Anglo completed the sale of Mantos Blancos and Mantoverde copper mines in northern Chile, analysts are calling into question the firm’s chance to unload two other assets.
The transition to production comes at a challenging time for the company, as prices for iron ore have fallen 70% since mine construction began in 2011.
The traditional owners’ opposition could mean that Energy Resources of Australia (ERA), a subsidiary of Rio Tinto, has to write down the value of its assets.
The dramatic fall in overall market capitalization reflects, according to PwC, the impact of the ongoing commodities rout and other challenges the local industry has faced in the last year.