Chile faults Codelco for environment noncompliance

Market: Metals
22/08/24

Chilean environmental authorities charged state-owned mining company Codelco for not complying with requested measures at the Talabre tailings dam.

Environmental superintendence SMA filed two charges against the miner for not validating or executing a contingency plan to control the "progressive alteration" of underground water resources and for the incorrect tailing materials from 2017 to 2024, it said.

The requested measures were established after society complaints regarding the possible contamination of the Rio Loa River and some spring sinkholes in the region.

Codelco has 10 business days to present a compliance program and 15 business days to appeal the decision, SMA said, adding that the company could face fines of up to $8.7mn.

Codelco said that it has received the charges and that it will analyze them to respond completely and in a timely manner, to "satisfy the demands of the authority and the expectations of the community."

"We fully understand the concern that this situation generates, so we will be exhaustive in detailing the plans that we have developed and that we will deploy to comply with our obligations," the company said, adding that it hopes to "overcome this situation as soon as possible."

Codelco produced 580,000 fine metric tonnes (tmf) of copper in the first half of 2024, down by 8.4pc from the same period in 2023.

By Carolina Pulice

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