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Mining companies considering expansion in Chile as copper price recovers

A local newspaper has reported that the Chilean authorities have approved a US$2.5 billion expansion of BHP Billiton’s Spence copper mine, though the company has not yet decided whether to go ahead with the project.

Chile’s Environmental Evaluation Service (SEA) has unanimously approved the project, which is the second largest mining investment under evaluation in the country.

BHP declined to comment on the report, while the SEA did not immediately respond to a request for comment.

The proposed expansion at Spence, which produced 167,000 tons of copper in 2016, would include the construction of a concentrator that would allow the mine to increase production while extending its shelf life by 20 years.

Many copper mining companies operating in Chile are seriously considering expansions for the first time in years, as the price of copper slowly recovers from an extended weak period.

Source: El Mercurio newspaper

2017-09-12T12:10:32+00:00 31/07/2017|Latest news|