Anglo American gets environment permit for Los Bronces project
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Mining giant Anglo American has been given an environment permit for a $3bn extension of its Los Bronces copper project in Chile by a committee of government ministers.
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Anglo was initially rejected last May by the Environmental Assessment Service. The committee - made up of the ministries of mining, agriculture, energy, economy, and health and chaired by the environment ministry - is not part of the Chilean EAS but has the power to hear and review environmental resolutions.
The Los Bronces extension seeks to sustain production levels and extend the mine's life through to 2036 by developing the next phase of the existing open pit and replace future lower grade ore by accessing higher grade ore from a new underground section of the mine.
The project is part of Anglo American Sur, owned by Anglo American (50.1%), the Codelco-Mitsui consortium (29.5%) and Mitsubishi (20.4%).
Reporting by Frank Prenesti for Sharecast.com