ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

2017 George A. Fox Conference  - Conference
Jan 23, 2019
2019 SME Annual Conference & Expo  - Conference
Feb 24, 2019 - Feb 27, 2019
CMA 121st Nat'l Western Mining Conference  - Conference
Feb 24, 2019 - Feb 27, 2019
Fuutre of Mining Australia 2019  - Conference
Mar 25, 2019 - Mar 26, 2019

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

Chile Supreme Court halts development of Goldcorp's El Morro Mine
October 8, 2014

Development of Goldcorp’s El Morro gold and copper mine was halted by Chile’s Supreme Court which ruled that the local indigenous groups opposed to the $3.9 billion project need to be better consulted.

The court ruled that an environmental permit awarded last year should be stopped until a fresh consultation, based on an International Labor Organization convention, has taken place with the local Diaguita community, Reuters reported.

It is yet another court ruling against mining companies in Chile, and Latin America. Chile is struggling to find a balance between mining-led growth and environmental protection.

Billions of dollars worth of projects have been halted altogether or delayed in recent years, snarled up in red tape and opposed by local communities.

The decision about El Morro overturns a local appeals court finding from last April, which dismissed an appeal lodged by the opposition group Diaguita.

The Diaguita - who also opposed the massive Barrick Gold Pascua-Lama project, stalled since last year - claimed that a previous consultation on El Morro was not properly conducted.

They also say the mine in northern Chile is planned on what they deem as sacred ancestral land, and that it could pollute a local river.

El Morro is a potentially large, low-cost copper and gold producer which had been due to begin operations in 2017.

But the project seems to have gone to the backburner for Goldcorp. It was absent from a list of organic growth opportunities mentioned by Chief Executive Chuck Jeannes at a gold conference in Denver, CO in September, with Jeannes pointing to the Camino Rojo project in Mexico as the company's biggest internal opportunity, Reuters reported.

El Morro is 70 percent owned by Goldcorp and 30 percent by New Gold. Goldcorp edged down 0.2 percent and New Gold fell 2.2 percent on the Toronto stock exchange at mid-afternoon, in line with other gold stocks.
 

Related article search:
 Chile    Goldcorp    Gold    Copper    El Morro