Antofagasta to Double Chile Cu Production by 2016

UK based copper mining company, Antofagasta will double copper production by 2016. The Chilean mining division, Antofagasta Minerals’ CEO Marcelo Awad said at 27th meeting of Japan-Chile Business Cooperation Committee in Tokyo the firm expands the annual production from current 500,000 tonnes to 1 million tonnes by expanding Los Pelambres mine and developing mines in Sierra Gorda area in Chile. The firm targets 1.5 million tonnes of production in future.

The firm plans to produce 530,000 tonnes of copper in 2010 after the production reached 390,000 tonnes in January-September while the production was only 440,000 tonnes in 2009. The firm plans to increase the production to 700,000 tonnes by 2012.

The firm expands the production at Los Pelambres by 28% to 400,000 tonnes in 2010 from 2009. The firm launches Esperanza mine in Sierra Gorda, which produces 190,000 tonnes of copper in and after 2011. The total copper production reaches 700,000 tonnes including operations at El Tesoro and Michilla mines.

The firm has vision to increase the copper production to 1 million tonnes in 2016, 1.2 million tonnes in 2019 and 1.5 million tonnes in 2025. Mr. Awad said the exploration indicates production at Los Perambles could be doubled.

The firm confirms more than 5 billion tonnes of copper resource in Sierra Gorda. Mr. Awad said Sierra Gorda has a copper rich deposit other than Esperanza and the firm could increase the output by 300,000 tonnes.

The firm conducts 15 explorations in the world other than Chile. The firm already finished feasibility study in Pakistan and submitted environmental impact assessment study to the authority to wait the permit.