Chinese investors are reportedly considering buying Andes Iron’s Dominga iron ore project, according to a media report by BioBio Chile.
The media report said the Délano and the Garcés families, which own Andes Iron, commenced talks with Chinese investors, who could buy the banned $2.5 billion iron ore project. The investors are reportedly now in a due diligence phase, but the report did not specifically name which investor or investors could buy the delayed 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 2021, a Coquimbo Environment Evaluation Commission finally allowed the project to be once again evaluated.
The $2.5 billion project aims to produce up to 12 million mt of iron ore per year. Local environmental regulator SEA was the first to reject the project in March 2017. Then, a Coquimbo’s environment commission had also banned it. In August 2017, a minister council kept the project ban.