Chile Collahuasi Says Patache Port To Be Operational In 3 Months
19 January 2011 - 3:21AM
Dow Jones News
Chilean copper mine Dona Ines de Collahuasi's Patache port could
be repaired and operational in three months, the company said
Tuesday.
After a fatal accident at the port forced its closure,
Collahuasi declared force majeure on its copper concentrate sales
contracts.
"According to the information available at this time, it will
take three months to repair the shiploader" damaged during the
accident at Patache, the company's spokeswoman Bernardita Fernandez
said.
Despite the contract suspension which hasn't been lifted yet,
Collahuasi has been shipping copper out from alternative ports such
as Arica.
Head of operations for the port of Arica, in a statement, said
it would be shipping some 20,000 tons of Collahuasi's copper
contained in concentrates a month.
In addition, Collahuasi is also shipping out copper through the
port of Antofagasta and through the Altonorte smelter.
The smelter is owned by one of Collahuasi's controllers,
diversified global miner Xstrata plc (XTA.LN). Xstrata holds a 44%
stake in the mine.
Anglo American PLC (AAL.LN) holds another 44% stake and a
consortium led by Mitsui & Co. (MITSY, 8031.TO) holds the
remaining 12%.
With an annual output of around 550,000 metric tons of copper,
it is one of the world's largest copper mines. It is located 185
kilometers southeast of the port of Iquique, high in the Andes
Mountains at 4,400 meters above sea level.
-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919;
carolina.pica@dowjones.com
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