| Court ruling against Los Pelambres | |
| | |
|
NEWS RELEASE, 9 MARCH 2015
COURT RULING AGAINST LOS PELAMBRES
Further to the update provided in the Q3 Production Report on 29 October 2014, Antofagasta plc announces that its subsidiary Minera Los Pelambres was today notified by the Civil Court of Los Vilos that the plan submitted is not sufficient to address the requirements of the Supreme Court order on the basis that the proposed works do not allow the natural flow of the Pupío stream to the town of Caimanes and that as a consequence Los Pelambres must destroy part , or all, of the tailings dam wall
The plan submitted in November 2014 following a ruling by the Supreme Court on 21 October
2014 sets out the further proposed work that would be conducted by Los Pelambres to ensure that the operation of the El Mauro tailings dam does not affect the normal flow and quality of the waters of the Pupío stream.
Los Pelambres has undertaken significant works to ensure that the flow of the Pupío stream is not altered and that the operation of the tailings dam does not affect the quantity or quality of these waters and believes the implementation plan submitted to the Court went beyond these requirements.
Los Pelambres will appeal the Court's decision and will continue to comply with all applicable laws, regulations and controls. The decision of the Appeal Court can itself be appealed by either party.
Los Pelambres is entitled to continue operating the dam until the appeal process is concluded.
|
|
|
Antofagasta plc
|
|
PRODUCER |
CODE : ANTO.L |
ISIN : GB0000456144 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Antofagasta is a copper and gold producing company based in United kingdom. Antofagasta produces copper, gold, molybdenum and silver in Chile, develops copper and gold in Chile and in Pakistan, and holds various exploration projects in Australia, in Chile, in Peru and in Sweden. Its main assets in production are MICHILLA, EL TESORO MINE, LOS PELAMBRES, EL TESORO, ESPERENZA (OXIDES) and ESPERANZA (SULPHIDES) in Chile, its main assets in development are REKO DIQ in Pakistan and LINCE/MICHILLA in Chile and its main exploration properties are PUNT HILL and PYRAMID ( ALASKA) in Australia, KIRUNA SOUTH in Sweden, CORDILLERA DE LAS MINAS in Peru and ANTUCOYA in Chile. Antofagasta is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 2 223.1 billions as of today (US$ 2 594.8 billions, € 2 425.1 billions). Its stock quote reached its lowest recent point on October 18, 2002 at GBX 100.00, and its highest recent level on April 26, 2024 at GBX 2 255.00. Antofagasta has 985 856 000 shares outstanding. |