https://www.miningweekly.com

Antofagasta sells Michilla legacy mine for $52m

26th November 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

VANCOUVER (miningweekly.com) – London-listed copper miner Antofagasta announced Friday the sale of its mothballed Michilla copper mine, in Chile, for $52-million to Haldeman Mining.

Antofagasta acquired Michilla in 1992, giving rise to what today is the company’s mining division. However, Antofagasta shuttered the mine on December 31, 2015, as the reserves were deemed insufficient to sustain and justify a large-scale mining operation.

The transaction includes the openpit mine, the underground mine, the cathode production plant and various mining properties. Antofagasta will retain the acid terminal and other facilities located at Caleta Michilla, which are currently used by its Centinela and Antucoya mining operations.

Michilla produced 29 400 t of copper in 2015, having reached peak output of 52 730 t in 2003.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.13 0.17s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: