Andes Iron, a copper and iron ore company that plans to develop a $2.5 billion iron ore project known as Dominga, is willing to give up a loading port terminal to advance its project, according to media reports.
The company could give the Chilean government the project’s loading port terminal, share its infrastructure, or seek other alternatives to advance the project, while also protecting the nearby environment. Andes Iron would be willing to use just one port terminal, instead of two, to develop the controversial project.
Recently, a Chilean environmental court in Antofagasta unanimously voted to demand a regional assessment commission to re-evaluate the project’s impact study. Early in August, a Coquimbo Environment Evaluation Commission has finally allowed the project to be once again evaluated. Local environmental regulator SEA was the first to reject the project in March 2017. Then, a Coquimbo environmental commission had also banned it. In August 2017, a minister council maintained the project ban.
The $2.5 billion project aims to produce up to 12 million mt of iron ore per year.