Delay in the expected start of production at the Arqueros Mining Development Project due to heavy rainfall and other factors
The Arqueros Mine in the Republic of Chile and the plant that produces copper concentrate from ore
Intermittent rainfall continued in August, causing washouts, bridge damage and other issues on public roads that disrupted the transport of materials, equipment and personnel, while the permitting procedures with the relevant administrative authorities concerning the receipt of electricity took longer than anticipated
Related procedures
Permitting procedures with the relevant administrative authorities concerning the receipt of electricity
Local administrative authorities
The impact on the financial results of the Company's group is currently under review. If the Company determines that the matter will have a material impact on its financial results, it will disclose the information promptly.
Temporary restoration work on the public roads has been completed, and transport capacity has improved from its previous level. Discussions with the administrative authorities regarding the permitting procedures have progressed, and steady progress is being made toward completing the procedures. The expected production start date is currently under review, and the Company will disclose it promptly once confirmed.
The Company will disclose the expected production start date promptly once it is confirmed.
| Item | Details |
|---|---|
| Event name | Delay in the expected start of production at the Arqueros Mining Development Project due to heavy rainfall and other factors |
| Target Locations / Products | The Arqueros Mine in the Republic of Chile and the plant that produces copper concentrate from ore |
| Cause | Intermittent rainfall continued in August, causing washouts, bridge damage and other issues on public roads that disrupted the transport of materials, equipment and personnel, while the permitting procedures with the relevant administrative authorities concerning the receipt of electricity took longer than anticipated |
| Impact on Earnings Forecast | The impact on the financial results of the Company's group is currently under review. If the Company determines that the matter will have a material impact on its financial results, it will disclose the information promptly. |
| Type of litigation or proceeding | Permitting procedures with the relevant administrative authorities concerning the receipt of electricity |
| Court or authority | Local administrative authorities |
| Outlook | Temporary restoration work on the public roads has been completed, and transport capacity has improved from its previous level. Discussions with the administrative authorities regarding the permitting procedures have progressed, and steady progress is being made toward completing the procedures. The expected production start date is currently under review, and the Company will disclose it promptly once confirmed. |
| Planned follow-up disclosure | The Company will disclose the expected production start date promptly once it is confirmed. |
Items this document does not state (17)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Intermittent rainfall continued in August, causing washouts and bridge damage on public roads leading to the Arqueros Mine, and transport capacity for materials, equipment and personnel had not fully recovered. In addition, the permitting procedures required to receive electricity for plant operations have taken longer than anticipated.