Antofagasta Gets Green Light to Expand Los Pelambres
15 November 2018 - 6:49PM
Dow Jones News
By Oliver Griffin
Antofagasta PLC (ANTO.LN) said Thursday that the planned
expansion of its majority-owned subsidiary, Minera Los Pelambres,
has been approved and will add an average of 60,000 metric tons of
copper in the first 15 years of operation.
The Chile-based mining company said construction of the $1.3
billion project will begin at the start of next year, with first
production expected from the second half of 2021.
Throughput at the plant will grow to 190,000 tons of ore a day
from its current capacity of 175,000 tons of ore, Antofagasta
said.
The company said yearly copper production will increase from
40,000 tons in the first year to 70,000 tons after 15 years. Over
the full period, the expansion will produce around 60,000 tons of
copper a year.
Los Pelambres may be expanded further, depending on
environmental and regulatory approval.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
November 15, 2018 02:34 ET (07:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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