Chile, the world’s biggest copper producing country, has warned that the global resources sector needs to pay far more attention to its environmental and social licence obligations if new projects worth billions of dollars are to get up.
The Chilean government has removed BHP Billiton's US$4 billion Spence copper expansion project from its 10-year development timeline, saying it expects the world's largest miner will miss its targeted deadline of first production by 2020.
The increasing engagement of Latin America with Asia may potentially be at the expense of Australia’s traditional sense of right to be a major Asian player, expert says.
The firm created a new division in April to evaluate deals in those areas, and in the past six months has made mining infrastructure-related investments in the U.S. and Africa.