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.