https://www.miningweekly.com
Copper|OPENCAST|Resources|Underground|Operations
Copper|OPENCAST|Resources|Underground|Operations
copper|opencast|resources|underground|operations

Chile's Chuquicamata underground copper mine to start this year – Codelco

28th February 2019

By: Reuters

  

Font size: - +

SANTIAGO – Chile's Chuquicamata underground copper mine is due to start operations in the middle of this year, the State copper miner Codelco's chairman said on Wednesday.

Chairman Juan Benavides said the start-up will be "a fundamental step and milestone in this structural overhaul" of Codelco.

Codelco, which produces nearly 10% of the world’s copper, announced a $5.550-billion investment to convert Chuquicamata, its second-largest resource, from an opencast mine into an underground facility last year.

The plans for Chuquicamata are part of a 10-year, $39-billion overhaul of the state miner's key operations as it seeks to maintain production despite rapidly falling ore grades at its deposits.

Finance Minister Felipe Larrain confirmed in the same news conference on Wednesday that the government would pay out the remaining $400-million of $1-billion capitalisation for Codelco's overhaul that was announced last June.

"This is a show of the confidence we have in the company and in the importance of these resources for Codelco to be able to complete its structural reform program," Larrain said.

Codelco's Chuquicamata and nearby Radomiro Tomic mines produced 653 000 tonnes of the company's total 1.8-million tonnes of output last year, a third of Chile's total production.

Edited by Reuters

Comments

Latest News

The integration of Alamos' Island Gold mine (pictured) and Argonaut's Magino mine will create synergies of $515-million.
Alamos buys rival Argonaut
27th March 2024 By: Mariaan Webb
Ironveld smelter
Ironveld ramp-up slower than expected
28th March 2024 By: Darren Parker

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 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 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:0.099 0.131s - 90pq - 2rq
Subscribe Now