Connect with us

Hi, what are you looking for?

Stock

Chile files four environmental charges against Anglo American mine

SANTIAGO (Reuters) -Chile’s environmental regulator has filed four charges against the major Los Bronces copper mine, controlled by Anglo American (JO:AGLJ), for noncompliance with environmental permits, the agency said on Monday.

The charges could carry a fine of nearly 17 billion pesos ($17.17 million), according to the Superintendency of the Environment, or SMA.

Los Bronces is one of Chile’s biggest copper mines with output of 255,000 metric tons last year, as well as a key project for Anglo American, which has been a takeover target of larger rival BHP.

Anglo American did not immediately respond to a request for comment.

One charge was deemed “very serious,” the highest of three offense levels, for noncompliance dating back to a 2014 sanction.

At the time, the SMA found that Anglo American Sur, the local unit that operates Los Bronces, failed to resolve acid drainage at the Esteriles Donoso tailings deposit, designed to hold mine waste.

“The company has not implemented a definitive solution … it constitutes a repetition of acts previously sanctioned,” the SMA said in a statement.

The regulator also filed two charges in the mid-level “serious” category. One was against Anglo American for not designing a mitigation system for acid waters collected downstream of the Esteriles deposit, and another for not taking measures to control seepage in Las Tortolas tailings dam.

The SMA also found that Anglo American had not reported to the agency complete data related to water and tailings, a violation it categorized as “minor.”

The miner has 15 days to present a mitigation program, and 22 days to contest the charges.

The SMA earlier this month also filed three charges against Anglo American for violations at its El Soldado copper mine in the Valparaiso region.

($1 = 989.9000 Chilean pesos)

This post appeared first on investing.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Editor's Pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com