Chilean officials unanimously rejected a mining and port project in the latest twist in more than a decade of legal and regulatory deliberation over a $3 billion investment that pitted environmental protection against economic growth.

Andes Iron said it had abided by all necessary environmental regulations and that the project was being singled out.

Chile rejects $2.5B iron and copper mining project near Humboldt Penguin Reserve due to environmental concerns, despite potential economic benefits.

The project has faced more than a decade of legal and regulatory scrutiny, culminating in the ministerial committee's decision.