R/€ = 16.33 Change: 0.02
R/$ = 14.24 Change: 0.01
Au 1232.05 $/oz Change: -0.45
Pt 832.50 $/oz Change: 4.25
 
 
R/€ = 16.33 Change: 0.02
R/$ = 14.24 Change: 0.01
Au 1232.05 $/oz Change: -0.45
Pt 832.50 $/oz Change: 4.25
 
 
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Teck gets approval to expand Quebrada Blanca mine in Chile

9th August 2018 BY: Reuters

SANTIAGO – Teck Resources said on Wednesday it had received regulatory approval for its $4.8-billion Phase 2 project at its Quebrada Blanca copper mine in northern Chile, a sprawling expansion that will boost production from the deposit to 300 000 t/y of copper.

The environmental approvals will allow the Canadian miner to extend the life of the aging deposit by 25 years, the company said in a statement, using only a quarter of its existing reserves and resources.

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The mine includes the first large-scale use of desalinated seawater for mining in Chile's arid Tarapaca region, Teck said, as well as a 140 000-t/d concentrator.

Chile is the world's top copper producer.

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Teck said in July that it would launch a formal process seeking a development partner in the project, which could contribute some $2-billion for a 30% to 40% stake.

The company said it expected to close a deal with a partner in the fourth quarter.

Quebrada Blanca produced 23 400 t of copper in 2017. 

EDITED BY: Reuters
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