Mining giant Antofagasta to exit controversial $900m Pakistan project

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Chilean mining giant Antofagasta hailed record production in 2019 despite unrest in Chile causing major disruptions to its projects in the country.

Mining giant Antofagasta is to exit its contentious project in Pakistan in a 900 million dollar (£684 million) deal.

The FTSE 100 firm said it has agreed a deal with Canadian partner Barrick Gold Corp and authorities in Pakistan to end its involvement in the Reko Diq copper and gold mine project.

It comes after work at the site was suspended in 2011 due to a dispute over the legality of the licensing process.