Chile has rejected the proposed $2.5 billion Dominga iron and copper mining project. Andes Iron, a domestic exploration and mining company, aimed to establish two open-pit mines and a seaport near the Humboldt Penguin National Reserve.
However, the regulators rejected the project again, citing environmental concerns for an area home to a unique mix of species, including Humboldt penguins, dolphins, and endangered parrots.
The mines were expected to extract 12 million tons of iron and 150,000 tons of copper annually for 22 years, generating 1,400 jobs in a country that is the world’s top copper producer.
In 2017, socialist President Michelle Bachelet’s administration first rejected the project, leading to the resignation of two top ministers. In …Full story available on Benzinga.com
Chile Rejects Dominga Project Once Again, Taps Debt Market To Help Its Copper Growth
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