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NEWS RELEASE, 8 MARCH 2015
PROTEST AT LOS PELAMBRES
On 28 February a small group of protesters from the local Choapa valley community established intermittent blockades at several points on the access road to the Los Pelambres mine. Since then, the protesters' actions have continued, resulting in damage to the office and minor equipment at the mine entrance. Other facilities outside the mine limits, which are used for normal mining activities, have also been damaged.
Although the protesters' actions disrupted normal operations, the impact was limited as critical supplies were available on-site, employees and contractors could travel by air, and an alternative dam was used for tailings disposal. None of the Company's employees or contractors suffered any injuries.
On 5 March the government intervened with the purpose of restoring normal road and mine access and arranged a meeting of all parties to negotiate a resolution to the current situation. However, normal access to the mine has not been fully restored and, on 7 March, negotiations stalled. Government authorities are now making efforts to resume talks as soon as possible.
The protests were triggered by a small group who do not necessarily represent the valley community and are seeking action by Pelambres and the local government to help alleviate the current drought conditions. Discussions regarding water availability have been proceeding for some time with the intention of establishing a lasting solution.
The current evaluation of the impact of the disruption to operations indicates that copper production has been reduced by an estimated 5,000 tonnes to date. Looking forwards, the impact will depend on when access is fully restored. In the meantime Pelambres is working on plans to mitigate this impact on production over the full year.
A further update will be provided as necessary.
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Antofagasta plc
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PRODUCER |
CODE : ANTO.L |
ISIN : GB0000456144 |
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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. |