Codelco approves further $1.24 bln investment in El Teniente expansion

Chilean copper producer Codelco’s board of directors has approved a $1.24 billion investment in the expansion of its El Teniente facility just south of the capital, Santiago, the state-owned copper producer said on Tuesday January 19.

Those capital expenditures represent the total budget estimated for the Diamante and Andesita projects, and will be spent together with another $1.93 billion, already approved, for a third project at El Teniente, called Andes Norte – totaling $3.2 billion.

The three projects were expected to extend the life of mine at El Teniente by 50 years while maintaining production capacity at...

Published

Renato Rostás

January 19, 2021

17:58 GMT

São Paulo