Codelco eyes recovering production of 1.7Mt/y by 2030
SANTIAGO - Chilean state-run copper miner Codelco expects it will take until 2030 to recover production capacity of 1.7-million metric tons per year, outgoing chief executive Andre Sougarret said on Friday.
The comments come as the mining giant faces challenges on various fronts, with copper production at a 25-year low and the government charging Codelco with leading talks with private lithium companies to shift to a state-led public-private model.
Sougarret will step down at the end of the month after announcing his resignation in June, citing "complexities" in running the world's largest copper producer.
During a presentation on Friday, he defended key expansion projects, including at the El Teniente mine, and said their completion was "undebatable."
He also stressed that there was about $15-billion left to complete the expansion projects.
Delays have plagued several projects, including the underground Chuqui mine.
However, Sougarret said he expected the mine to reach its production goal in the coming years, which will help lower costs.
Meanwhile, he added the company will use "alternative actions" to extract materials from the El Teniente mine following expansion delays there.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation