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Metallum to benefit from Chilean price assist

27th March 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior copper miner Metallum said on Friday that the company would benefit from new measures introduced by the Chilean government to support small miners.

The Chilean government has announced that it would provide price support to small miners delivering ore to the Enami processing facilities, with miners receiving up to 30c more per pound of copper delivered, if the copper spot price traded below $2.73/lb.

“The implementation of price support for small miners, which deliver ore to the Enami plants, clearly demonstrates the Chilean government’s support of the mining industry and its intent to continue to provide stimulation to the industry to ensure smaller miners remain viable,” said Metallum MD Zeff Reeves.

Metallum was currently shipping ore from its San Sebastian operation to an Enami processing plant in Copiapó, and had plans to increase output from this operation.

Edited by Creamer Media Reporter

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