Glencore expected to achieve annual cash savings of more than $300 million in its coal business by the end of 2018, but now it expects savings of more than $450 million by year-end.
The project sits atop the Incahuasi Salar and it is located on the Chile/Argentina national border some 75 kilometres southeast from the Atacama Salar.
President Vladimir Putin, who attended the opening ceremony, said the new operation reinforced the state-controlled firm's position as a diamond world leader.