Teck Resources Ltd. was slapped a US$1.2 million fine by Chilean environmental regulator SMA over the improper handling of mining waste and internal environmental controls at its Quebrada Blanca copper mine, Reuters reported Aug. 23.
The development comes as the diversified miner is moving toward the construction of the phase two project, named QB2, at the operation.
In May, Teck signed a 12-year, US$2.5 billion limited recourse project financing facility from a consortium of banks, which will be used to develop QB2.
Teck owns a 60% stake in the joint venture, with Sumitomo Metal Mining Co. Ltd. holding a 25% stake, Sumitomo Corp. with a 5% stake, and Empresa Nacional de Minera owning 10%.
