Platinum Group partners with Saudi firm for smelter amid South African export hurdles
The partnership with Ajlan & Bros includes a $4 million feasibility study split 50/50.
Antofagasta said on Thursday access to its Los Pelambres operation in Chile’s Coquimbo region is being blocked by a “small group of people, without connection to any specific incident or situation”.
The miner added it has seen no material impact on production but work on the mine’s development has been reduced due to the blockade.
The company added the people were requesting compensation to clear access, with transport of supplies and personnel to the mine site affected.
Antofagasta is working with authorities and representatives of local communities to resolve the situation, the company said in a statement.
The blockade comes two months after the group had avoided labour strikes by reaching a contract agreement with supervisors at the Los Pelambres mine on wage increases, bonuses and various benefits.
Shares of the London-listed miner were down 1.3% as of 0850 GMT.
(By Muhammed Husain; Editing by Krishna Chandra Eluri)
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