Conversations between groups opposing a multi-billion-dollar iron ore project and Andes Iron, the company developing the project, have failed, according to a media report by DF.
According to a Chilean court, there is no longer a chance the opposing sides could reach an agreement. Andes Iron, a copper and iron ore company, plans to develop a $2.5 billion iron ore project, known as Dominga. It said it would even give up a loading port terminal to advance the project, as environment and other groups oppose the project.
Andes Iron said it could invest $400 million to protect the local biodiversity, as well as develop other compensation initiatives, all of which rejected by the opposing groups. Recently, a Chilean environmental court in Antofagasta unanimously voted to demand a regional assessment commission to re-evaluate the project’s impact study. 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. Early in August 2021, a Coquimbo Environment Evaluation Commission finally allowed the project to be once again evaluated.