Codelco Plans Copper and Silver Complex in Northern Chile

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Researched by Industrial Info Resources (Sugar Land, Texas)--State-owned miner Codelco (Santiago, Chile) is planning to develop the Ministro Alejandro Hales copper and silver project in northern Chile. The project entails the construction of a 50,000-ton-per-day open pit mine, a processing plant, as well as a smelter and refinery to produce 200,000 tons per year of copper concentrate and 300 tons per year of silver for at least 14 years. If the project is approved by the company's board, prestripping work could start in 2010. In order to excavate the pit, the company will have to remove 210 million tons of sterile earth to reach mineral-rich ore at about 200 meters below the surface. The complex, which is expected to be complete by 2013, is estimated to cost about $1.7 billion to develop.

Formerly known as Mansa Mina, Ministro Hales is a copper sulfide deposit with an estimated 219 million tons in reserves and 1.13% average grade. Once operational, the project should help keep processing capacity of Codelco North Division at current levels and translate into an additional 165,000-200,000 tons per year of copper concentrate. The Ministro Hales mines lies between the company's giant Chuquicamata mine and the city of Calama in the Antofagasta region.

Codelco is the world's largest copper producer, controlling about 17% of the world's copper reserve base.

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