The parties have agreed not to release the transaction price.
Codelco Mining News
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.
Under the new terms, Codelco's copper cathodes will be certified in eight ways that take environmental footprint of production into consideration.
Representatives of major mining companies believe the global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong.
Codelco Chief Executive Pizarro said company produced 1.24m tonnes of copper in January-to-September period, a 3 percent decline from same period last year.
The world's largest copper miner, Codelco, may see a boost in investment cash regardless of who wins next month's presidential runoff in Chile, as both candidates have vowed to end the state-run firm's funding of the military.
Sebastian Pinera, front-runner in Sunday’s election, was so frugal with funding during first term that Codelco that company’s debt levels jumped 84 percent.
Profit margins are expected to end significantly higher this year, and this trend to continue over the next two years, a study by S&P Global Market Intelligence shows.
Most of Chile's 7.5 million tonnes in reserves of lithium are found in brine deposits,and take at least seven years to develop.
The state miner is seeking private-sector partners to develop and exploit its vast Maricunga and Pedernales deposits in the north of Chile.
Up more than 3% after quake near the city of Calama in main copper producing region of the South American country.
Chairman of Chile's state-owned copper miner Codelco: "I'm a little skeptical...in the short-term."
The pilot project is taking place at the Gabriela Mistral mine
Having climbed almost 64% since the start of the year, investor sentiment towards SolGold appears to be quite positive.
The placing is at a 15% premium to SolGold's closing price on Thursday and at a 12% discount to its peak share price of 46.75p on May 26.
The state-owned miner reported a Q1 profit of $534 million, more than the total it earned in 2016.
Modifications seek to simplify aspects of the project originally approved in 2010 in order to optimize mineral handling.
Analysts believe that would increase the chances of the country joining Latin America’s ongoing political drift to the right in November’s elections.
Experts believe the value of the nation's dawning industry is set to jump from $1.1bn this year to $7.9bn in 2021 on a combination of revised regulatory framework and significant gold and copper reserves.
The unit is expected to help speed up the approval of legislation that allows the exploration and exploitation of the country’s vast lithium deposits.
Experts expect the country, which accounts for more 30% of the world's copper supply, to produce 5.4 million tonnes of the metal in 2017, slightly down from the 5.5mnt it yielded last year.