Soaring demand for copper will help drive mergers, BHP CEO says
Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Mike Henry said
Chile’s Supreme Court on Tuesday upheld a lower court decision ordering a fresh environmental evaluation be conducted regarding Barrick and Newmont’s joint-venture Norte Abierto gold and copper mine project.
The dispute involves the potential impacts of the mine project on a nearby indigenous community.
The mining complex, situated in the northern Atacama region, was created in 2017 following the merging of the separate Cerro Casale mine owned by Barrick and Caspiche mine owned by Newmont Goldcorp, into a joint venture.
The Norte Abierto complex was previously approved in 2019 following the submission of an Environmental Impact Statement, which seeks authorization to make minor modifications to projects.
The Norte Abierto project has proven and probable reserves of 23.2 million ounces of gold and 5.8 billion pounds of copper, according to company data.
(By Fabian Cambero and Marcelo Rochabrun; Editing by Aurora Ellis)
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