The environmental regulator in Chile has taken action against Codelco, the world’s largest copper miner, over its management of the Talabre tailings dam at the Ministro Hales division. The charges relate to the lack of a contingency plan to protect underground water and the improper deposit of tailings materials dating back to 2017.
Codelco, known for its investments in environmental initiatives such as electric buses and recycling, has been given a deadline to submit a compliance plan and could face a significant fine. The company has pledged to address the issues promptly and ensure compliance with environmental standards.
The charges, labeled as “serious” by the regulator, stem from a citizen complaint regarding potential seepage from the dam that could impact local aquifers and communities. The Talabre dam processes waste from multiple Codelco divisions.
Despite seeking an environmental permit for an extension of its Ministro Hales mine, Codelco now faces scrutiny over its environmental practices. The outcome of this case could have significant consequences for the company’s operations and reputation.
In conclusion, Codelco’s environmental challenges highlight the importance of responsible resource management in the mining industry. Investors and stakeholders should monitor the outcome of this case closely, as it could impact Codelco’s financial performance and long-term sustainability. Ensuring compliance with environmental regulations is crucial for companies operating in sensitive ecosystems, and proactive measures can help mitigate risks and protect both the environment and the bottom line.