Chilean iron ore project could launch by late 2021

Wednesday, 09 December 2020 21:31:01 (GMT+3)   |   Sao Paulo

Chilean iron ore company Andes Iron could launch its $2.5 billion project by late 2021 if a court allows it to proceed, according to a media report by El Dia.

The project, known as Dominga, has suffered a number of setbacks and is pending court approval. Recently, a court ordered the Chilean Ministry of Environment to indicate whether the Andes Iron project is “compatible” with the biodiversity of the surrounding areas of the Coquimbo Bay.

The $2.5 billion project aims to produce up to 12 million mt of iron ore per year. The El Dia media report noted the project could be the region’s biggest and would help Chile recover lost jobs due to Covid-19.

Local environmental regulator SEA was the first reject the project in March 2017. Then, Coquimbo’s environmental commission banned it as well, and in August 2017, a minister council maintained the project ban. Since then, Andes Iron had been appealing the case.

In May 2018, an environmental court ordered the project to be re-evaluated. Then, a Chilean not-for-profit (NGO) organization asked for a ban in the project. Chile’s TC denied the NGO request.

Due to recent setbacks, Andes Iron admitted it would give up a port it expected to develop near the proposed Dominga mine, so it could move on the iron ore project.

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