Chile has rejected a billion-dollar mining project to protect marine life. A company wanted to mine an area that is home to 80 per cent of the world's Humboldt penguin, as well as blue whales, fin whales and sea otters. The Andes Iron mining company wanted to mine millions of tons of iron and build a new port. Chile's Environment Minister said development was good, but not at the cost of the environment, health, "or to unique ecological areas in the world".
Chile's National Mining Society said this was bad news. It said the project was essential for the economic development of the country. It would have created $2.5 billion. The government said the company had not shown the full negative impact of the project and questioned the project's finances. It said basic information was missing and that compensation was too low, "meaning…the eventual impacts have not been properly taken care of".