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Chile's Collahuasi plans to expand copper production by 3.2 billion US dollars

Release date:2018-12-29  source:SMM  author:曹愉钦  Browse times:2747
December 29th: Chilean mining company Collahuasi, owned by Anglo American Plc and Glencore Plc, has applied for an environmental permit to extend its deposit life with a $3.2 billion investment, the company said on Thursday. The statement said that the Collahuasi project is one of the world's largest copper mines, with an estimated production of 545,000 tons in 2018, which will improve operations, increase efficiency and production.

Francisco Carvajal, vice president of operations at the Collahuasi copper mine in Chile, said in Peru in September that Coollahuasi copper ore produced 545,000 tons of copper this year, a 4% increase from 2017.

Chile’s prospects for future copper growth are also optimistic.
In early December, Teck Resources announced that it has sold 30% of the indirect shareholding of Compania Minera Teck Quebrada Blanca S.A. to shareholders of Sumitomo Corporation and Sumitomo metal Mining Co. Don Lindsay, president and CEO of Teck, said at the time: “QB2 is one of the most important undeveloped copper assets in the world, and the transaction further confirms the value of the project.” “This partnership is significantly reduced Tektronix’ investment risk in the project has enhanced the company’s project economy and retained the company’s ability to continue to return capital to shareholders and reduce current outstanding bonds.” Lindsay added, “QB2 will be a long-lived, Businesses that are low-cost and have significant expansion potential include options that double or double production to become the world's top five copper producers." The Tektronix board of directors has approved construction in April 2019. The project is expected to have an annual production capacity of 316,000 tons, a significant increase from the 23,000 tons in 2017.

QB2 will join BHP Billiton's Spence Growth Option (SGO) project, Los Pelambres expands the first phase, owned by Antofagasta, and Mantoverde Expansion, owned by Mantos Copper, with an expected production date of 2021. Fitch reports that the partnership highlights investors' prospects for expanding future copper production with compelling long-term demand fundamentals.

The report does have a warning: a major downside risk for Fitch's optimistic outlook for Chile's copper production is the continued decline in the ore grade of the country's mining industry.

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Key word: 铜矿 产量 美元
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