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Chile fines British-South African copper mine $4.5 million
by Staff Writers
Santiago (AFP) Sept 02, 2014


Chilean authorities Tuesday fined mining giant Anglo American Sur $4.5 million dollars for violating environmental rules at its El Soldado copper mine.

They said the British-South African-owned mining company committed the violations in 2013.

"They were related to management of reforestation, wildlife, rain water, sterile dumps," among others issues, said a statement by the Superintendency of the Environment.

El Soldado, located 132 kilometers(82 miles) from Santiago, is one of five copper mines in Chile operated by Anglo American Sur, produced 53,894 tonnes of copper in 2012.

The company can appeal the fine.

Chile is the world's largest producer of copper, accounting for a third of total production.

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China fines insurance firms $18 mn for price monopoly
Shanghai (AFP) Sept 02, 2014
A total of 23 Chinese insurance firms have colluded to fix fees, authorities said Tuesday, slapping them with a total of $18 million in fines in the government's latest anti-monopoly move. The companies negotiated and agreed on unified commissions from auto insurance premiums through meetings organised by industry group the Zhejiang Insurance Association, the National Development and Reform ... read more


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