- Write by:
-
Wednesday, January 9, 2019 - 10:06:03 AM
-
1356 Visit
-
Print
Mining News Pro - Cochilco said in a report that output from Chile, the world`s top producer of the red metal, could reach a record of 7.25-million tonnes as early as 2025.
Advertisement
The state copper agency said in the report that it believes production by existing, aging mines will decrease by 19%, to 4.46-million tonnes per year, but that the decline would be offset by several new projects and expansions.
"The growth in production is only possible if the new investments materialize," Cochilco said in the report.
Advertisement
Several major new projects and expansions are planned in the coming years, as Chilean miners confront declining ore grades at sometimes century-old mines.
State-run miner and world top copper producer Codelco recently launched a $40-billion, 10-year investment plan to boost productivity at its Chilean mines.
Canadian miner Teck Resource is also moving forward with an expansion plan, known as QB2, which won regulatory approval in August.
The overhaul is expected to extend the ageing deposit`s life by 25 years and substantially boost production to 300 000 tonnes of copper annually from 23 400 tonnes in 2017.
In addition to Codelco, Chile is home to global miners BHP Group, Anglo American, Glencore and Antofagasta.
According to Mining News Pro - Cochilco said in a report that output from Chile, the world`s top producer of the red metal, could reach a record of 7.25-million tonnes as early as 2025.
The state copper agency said in the report that it believes production by existing, aging mines will decrease by 19%, to 4.46-million tonnes per year, but that the decline would be offset by several new projects and expansions.
"The growth in production is only possible if the new investments materialize," Cochilco said in the report.
Several major new projects and expansions are planned in the coming years, as Chilean miners confront declining ore grades at sometimes century-old mines.
State-run miner and world top copper producer Codelco recently launched a $40-billion, 10-year investment plan to boost productivity at its Chilean mines.
Canadian miner Teck Resource is also moving forward with an expansion plan, known as QB2, which won regulatory approval in August.
The overhaul is expected to extend the ageing deposit`s life by 25 years and substantially boost production to 300 000 tonnes of copper annually from 23 400 tonnes in 2017.
In addition to Codelco, Chile is home to global miners BHP Group, Anglo American, Glencore and Antofagasta.
Short Link:
https://www.miningnews.ir/En/News/324095
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
No comments have been posted yet ...