Codelco Loses Environmental License for Ecuador Copper Project
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A provincial appeals court in Ecuador has stripped Codelco and local joint venture partner Enami of its environmental license for the Llurimagua copper project, according to a ruling published Wednesday.
Plaintiffs from the nearby Intag Valley, who have opposed mining development since the 1990s in defense of animal species like the spectacled bear, had filed a constitutional injunction alleging a violation of their right to be consulted.
The Ibarra court agreed, revoking the license granted by the environment ministry in 2014 and ordering Enami to provide a new environmental impact study and management plan for advanced exploration as a precondition for resuming work. Conditions include consultation with the affected community.
To be sure, the court didn’t strip the partners of their mining title. The decision overturns a February ruling by a lower court in Cotachi. The Llurimagua project has also been delayed by a dispute between its Chilean and Ecuadorian shareholders.
Source: Bloomberg
About Codelco
Codelco is an independent company, owned by all Chileans, the world’s largest copper producer, and leader in metal reserves on the planet, the driving forces behind Chile’s development. Its core business is exploring, developing and extracting, and processing mineral resources that are then converted into refined copper and by-products, and subsequently marketed. These operations are carried out at seven divisions: Radomiro Tomic, Chuquicamata, Ministro Hales, Gabriela Mistral, Salvador, Andina, El Teniente and at the Ventanas smelter and refinery.
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