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Codelco's structural projects – initiatives with which the company seeks to maintain production levels of approximately 1.8 million tonnes of copper annually – continue to take shape
New Mine Level, a project that aims to extend The useful life of the El Teniente division for about 50 years has received support from the mining company's board of directors. According to the minutes of the March meeting (published this week), when the table was chaired by Scar Landerretche, she unanimously approved an investment of more than $ 2,000 million for this task.
after the geotechnical difficulties that the initiative goes through, product of the rock explosion that has occurred and that has caused fatal accidents in its construction phase. This forced Codelco to reformulate the project, opting for the exploitation of three new sectors
The main area is the Andes Cordillera, which lies up to 250 meters below Lieutenant 8, the level currently exploited. In Andes adds the opening of two support sectors (Andesita and Diamante) that will use the existing infrastructure, while the Andes Norte exploitation is being prepared.
In this way, the corporation discovers the level of Lieutenant 9, as it was projected at the beginning. This represented a greater time and cost of work. The new strategy makes the project viable and reduces security risks, they say the state.
Regarding the detail of the investment, which is still subject to review by Cochilco and the Department of Social Development, it is divided $ 1,923 million for the project Andes Norte, 101 million US dollars for Diamante and 75 US dollars for Andesita
With all that concerns the state project, they had to correct the figures badociated with the project at the beginning, they reported 3 000 million US dollars but they will eventually exceed 5,000 million US dollars. Of these, 40% have already been disbursed without major results and add to the $ 2,000 million recently approved by the board of directors, plus 10% of the support areas.
According to the presentation made by the state's CEO, Nelson Pizarro, this week in Congress the state of progress of the New Mine Level project is 46.7% and it is estimated that the first extraction of ore is made in 2023, with about 35,000 tons per day, which will gradually be increased to 140 thousand tons when the operation is complete regime. These figures give a profitability of about 10% of the investment in the deposit.
El Teniente division, which is negotiating in advance the renewal of the collective contract of more than 3,600 workers, has become the latest years in the most productive of society, and holds the title of being the third copper mine in the country that produced the most in 2017, with 464,000 tonnes of fine copper. He is only surpbaded by Minera Escondida and Collahuasi, according to Cochilco figures. This production represented $ 630 million in surplus for the state during the last fiscal year.
In the future, Codelco will seek to add reserves of about 2,000 million tonnes, with an average copper content of 0.86%. 19659002] THE LIEUTENANT WAS THE FAVA 3A THAT MS COPPER BAG IN CHILE IN 2017, WITH 464 BILLION TONNES AND HAS BEEN THE PRODUCTIVE MEMORY OF CODELCO.
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