Chile’s state-owned copper producer Codelco appealed to Chilean legislators that 40pc of its copper output will be at risk if the glacier bill is passed, reported local media.
Codelco sent a letter to Senate’s Mining and Energy Committee warning that mining operations at Andina, El Teniente, and Salvador will be affected as per the prohibitions of the proposed bill. These three mines constitute 40pc of Codelco’s production.
The glacier protection bill is being considered by the Chilean senate. Another bill known as the royalty bill which is in favour of increasing the taxes on Chilean miners is also under consideration.
Environmentalists are of the opinion that glaciers that are under threat of climate change need protection. This bill was first proposed in 2018. The Senate committee will review the bill and conduct procedural voting in the next few weeks.
Codelco’s copper production increased by 1.2pc to 1.72mn mt in 2020, up from 1.70mn mt in the prior year.