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SANTIAGO - Chile’s Environmental Authority has granted approval to Antofagasta (LON:ANTO) PLC for the Environmental Impact Assessment (EIA) of the Zaldívar copper mine, paving the way for an extension of the mine’s operations until 2051 and a transition to a sustainable water supply. The Environmental Qualification Resolution (RCA) is expected to be issued shortly.
The EIA approval marks a significant milestone for the Zaldívar mine, which is co-owned by Antofagasta and Barrick Gold Corp. (NYSE:B) The mine’s life extension includes the development of primary sulphide ore, in addition to the current secondary sulphide Ore Reserves. This approval follows a two-year permitting process involving engagement with local communities, government, and stakeholders.
Antofagasta’s CEO, Iván Arriagada, expressed satisfaction with the outcome, highlighting that it ensures operational continuity, job security for both direct and indirect employees, and support for local businesses involved with the mine.
The mine will continue to utilize its current water sources until 2028, after which an evaluation will determine the best alternative for its long-term water supply. The options include using sea water or sourcing water from third parties, addressing the critical issue of water use in mining operations in the arid regions of Chile.
This development is seen as a move that reduces operational risks for Antofagasta, allowing the company to focus on maximizing the potential of the Zaldívar mine.
Investors and stakeholders have been advised to not place undue reliance on forward-looking statements, as these involve risks and uncertainties. Antofagasta has disclaimed any obligation to update forward-looking statements in light of new information or future events.
This news is based on a press release statement from Antofagasta PLC, a company listed on the London Stock Exchange (LON:LSEG) and regulated by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280).
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