Antofagasta Raises Capex Estimate for Centinela Project Expansion to $3.7 Billion
11 August 2022 - 04:59PM
Dow Jones News
By Jaime Llinares Taboada
Antofagasta PLC said Thursday that the capital cost estimate for
its Centinela Second Concentrator Plant project in Chile has been
revised to $3.7 billion from the previous $2.7 billion.
The mining company said this increase reflects design
improvements, inflation, and the results of advanced engineering
and a detailed execution plan.
Antofagasta is set to make a decision on whether to proceed with
the project in early 2023.
The first phase of the project would add annual production
capacity of 180,000 metric tons of copper equivalent. A further
expansion would increase output to 250,000 tons a year.
As for the Los Pelambres project, Antofagasta said that the
desalination plant remains on track for completion in the fourth
quarter of 2022, with the concentrator plant expansion expected in
early 2023.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
August 11, 2022 02:44 ET (06:44 GMT)
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