There has been no work done at the planned open cut Pascua-Lama since 2013 and it has been under legal threat for a decade. It was not an operating mine. It was 600 km to the south of our mine.
The Chile mining industry is large and we have an operating underground mine. There is no link to our mine. Great to be able to buy more cheaply.
Mining is a major driver of the Chilean economy, contributing more than 53 per cent of Chile’s 2018 exports and nine per cent of gross domestic product (GDP) (Source: Consejo Minero annual report 2018).Chile produces a third of the world’s copper and is a major producer of iodine, rhenium, and lithium. It is also growing in importance for its gold, silver and molybdenum processing. CONSEJO MINERO, the association representing the largest producers of copper, gold, molybdenum and silver, the current mining investment portfolio stands at US$65bn for the period of 2018 to 2027. Mining companies have announced 44 projects in Chile, of which 14 relate to copper, seven are silver , gold and molydbdenum projects (Source: Cochilco – Chilean Copper Commission –Mining portfolio 2018 ).
AGD Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
