Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Mining projects run by Chile’s state-owned copper producer Codelco will be investigated by a congressional committee, lawmakers in the lower house announced, amid a prolonged fall in production of the key industrial metal.
The motion to launch the investigation was approved unanimously late on Wednesday, aiming to review the administration and regulation of Codelco, the world’s largest copper miner.
The probe will focus in particular on project delays and planning, as well as Codelco’s corporate structure, according to a congressional statement.
The membership of the investigative committee has not yet been determined, and participating lawmakers will have two months to produce a report with its findings.
(By Fabian Andres Cambero)
Read More: Headwinds mount in quest for stable copper supplies
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