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Codelco Focusing on Andes Norte, Traspaso Andina and Chuquicamata Projects-The 21st China(Guangzhou) Die-casting, Foundry & Industry Furnace Exhibition
3/16/2020 压铸展-铸造展- Die-casting expo-foundry expo |
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Chile state copper miner Codelco’s investment plan for 2020 entails spending some USD 3.65 billion, with a focus squarely on structural projects and mine-life extensions due to ore depletion. The investments outlined are USD 16 million higher than those made in 2019 and three key projects account for approximately 45% of the total. USD 1.63 billion of the total will be spent on the Andes Norte, Traspaso Andina and Chuquicamata underground projects, while the miner will invest another USD 1.82 billion in mining development and other continuity projects, Codelco CEO Octavio Araneda was reported as saying by local daily La Tercera.
Andes Norte is part of the wider expansion plan that will extend the life of the El Teniente mine in the O''Higgins region by 50 years. The capex for this initiative was established at USD 5 billion and production from the expanded area is forecast to start in 2023. Last January, mining minister Baldo Prokurica inaugurated Recursos Norte, another new level of the El Teniente operation.
Traspaso Andina - Located in the Valparaíso region in central Chile, this project will create a new crushing line and ore transportation system due to changes in the open pit, which will maintain current production of 92,000t/d of ore. This initiative will require an investment of USD1.48 billion and operations of the new facilities are scheduled to begin this year.
Chuquicamata underground - Last August, the miner inaugurated the underground operation at Chuquicamata, the world’s biggest open pit mine, aiming to extend its life for another 40 years. The whole project requires a US$5.7bn investment and last November the company submitted an environmental impact assessment to improve the operation by adding nearly 3,000 new workers.
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