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2012-04-13 — nytimes.com
... the Riotinto mine remains closed, tied up over regulatory delays, environmental concerns and a property dispute. No matter who is right, the stalled mining project illustrates the challenges Spain will face in digging itself out of a deep economic hole.
Rosa Caballero, the mayor of Minas de Riotinto, a town of 4,300 people, says the reopened mine could provide several hundred desperately needed jobs. She likens the impasse to "a critically ill person who has been awaiting an implant from a donor and is then made to wait once a donor miraculously shows up." The mine, whose original British owners ceded to the Spanish during the dictatorship of Gen. Francisco Franco, has been closed since 2001 -- when copper prices sank below $1,500 a ton. But with copper prices now about $8,100 a ton, and because of rising demand from China and other emerging markets, another foreign company, Emed Mining, is looking to reopen the mine and return it to production next year. source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |