The Codelco-owned site is prone to mud rush caused by ice melting on the Andes range situated on the surface, a hazard that closed the exploration area for months on end. This combined with the company’s plan to expand operations to the seventh and eighth levels made it crucial to find a solution that would allow them to mine mud ore safely.
Codelco Mining News
The Mining Committee of the Lower Chamber met with Codelco executives, employees, and other stakeholders.
Copper production will peak in the second half of 2019, making a growing supply deficit much more real.
Authorities may consider potential revisions to the mining laws in order to make companies that already own concessions to work on them or else give them up.
One of the main problems, says the head of Chile’s Mining Society, Diego Hernández, is miners have no incentives to do anything with the assets they already own and is very cheap to keep them.
Relations between the world’s largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years.
Nelson Pizarro, who took the post in 2014, has played a critical role in the drive to reduce spending and force a reduction in costs, while kicking off a major overhaul of Codelco’s aging mines to deal with dwindling ore grades.
Earlier on Thursday, Codelco CEO Nelson Pizarro called on workers to show restraint and moderation in negotiations.
Chile's state copper company Codelco said on Thursday it produced 1.734 million tonnes of copper in 2017, its second highest output ever.
The 36-month contract was approved by 75 per cent of the union.
While Nelson Pizarro could well stay on as Codelco's chief executive officer, the government is putting together a shortlist of candidates.
Global copper output is expected to climb from 20.4 million tonnes this year to 28 million tonnes by 2027.
Best performance in three years.
The project could become the first mine Codelco operates abroad.
Chile's Molymet and China's Sichuan Fulin Industrial Group were selected in a bidding process to develop technology focused on the lithium market.
The go-ahead from the Antofagasta region's environmental regulator will allow the company to expand its Radomiro Tomic mine.
According to minister Aurora Williams, miners with operations in the country currently spend $20 billion on support services a year and figure is set to increase.
The approvals will allow the company to modify its original expansion plan, already permitted and now 44 pct complete, which seeks to add another mine level.
Recognizing the vital role that copper will play in a sustainable future, Nexans is joining forces with Codelco.
The parties have agreed not to release the transaction price.
Codelco will invest $250 million to modify the shape of the current pit.
Ninth gain puts red metal on longest winning streak since 2004.
The Madrid-based firm signed a $20-million-dollar contract.
About 150 workers will be pre-selected as a result of the process, which closes on Dec. 24. They’ll join the over 1,100 employees already working on the much-needed project.
“A lot of people including myself are promoting the idea that Nelson continues on as CEO for a couple of years if possible,” said chairman Oscar Landerretche.