Anglo American's Los Bronces expansion permit nixed by Chile regulator

May 03, 2022 11:44 AM ETAnglo American plc (AAUKF)NGLOYBy: Carl Surran, SA News Editor3 Comments

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Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) said Tuesday that Chilean regulators have formally rejected the environmental permit for its Los Bronces copper mine expansion project.

The regulator reportedly said the information provided by Anglo (OTCQX:AAUKF) did not fully remove doubts about the project's potential risk to public health.

The miner said it plans to continue following the regulatory process in Chile, which includes the potential to request a review by a Minister's Committee to evaluate the full breadth of merits of the project.

The Los Bronces project aims to expand the current open pit by accessing a new underground section of the mine.

Anglo's difficulty in Chile underscores the challenging operating environment for mines in South America; regulators in Colombia recently refused to consider AngloGold Ashanti's permitting request for a copper mining project.

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