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Chile's national copper company Codelco said Wednesday that a $1.
4 billion copper mine expansion project will soon break ground that will help extend Salvador's lifespan until 2068
.
Codelco said in a statement that the Rajo Inca project aims to convert Salvador from an underground mine to an open-pit mine and requires the company to first strip the rock
that covers the deposit.
"We will start work in the coming weeks to reach production of 90,000 tonnes in the first half of 2023
," the statement said.
”
Codelco is embarking on a 10-year, $40 billion program to upgrade its sprawling but aging mines, which have been plagued
by steep declines in ore grades in recent years.
Salvador has been operating since 1959 and has the lowest productivity of all copper miners, producing just 50,600 tonnes last year, less than 3 per cent
of Codelco's total production.
The company's board approved the plan and its financing
in January.
Chile's national copper company Codelco said Wednesday that a $1.
4 billion copper mine expansion project will soon break ground that will help extend Salvador's lifespan until 2068
.
Codelco said in a statement that the Rajo Inca project aims to convert Salvador from an underground mine to an open-pit mine and requires the company to first strip the rock
that covers the deposit.
"We will start work in the coming weeks to reach production of 90,000 tonnes in the first half of 2023
," the statement said.
”
Codelco is embarking on a 10-year, $40 billion program to upgrade its sprawling but aging mines, which have been plagued
by steep declines in ore grades in recent years.
Salvador has been operating since 1959 and has the lowest productivity of all copper miners, producing just 50,600 tonnes last year, less than 3 per cent
of Codelco's total production.
The company's board approved the plan and its financing
in January.
