01 May 2012

CHILE / CANADA : Santiago's High Court Suspends El Morro $3.9 Billion Mining Project.


      A major blow for Vancouver-based Goldcorp's El Morro copper and gold mine project in the Atacama desert.
     Chile's supreme court suspended the permit for the $3.9 billion project.
     The justices upheld an appeals court decision requiring more community approval and renewed environmental studies.
     The decision will raise costs and delay production of an estimated 200 million pounds of copper and perhaps 210,000 ounces of gold.