Chile's Collahuasi copper mine output to fall in 2015, rebound next year -CEO

jueves 13 de agosto de 2015 10:42 GYT
 

By Fabian Cambero

SANTIAGO Aug 13 (Reuters) - Collahuasi, one of the world's largest copper mines, will see its production fall slightly this year compared to 2014, but it is expected to recover next year, the mine's chief executive said on Thursday.

The Collahuasi mine, located in northern Chile, produced around 470,000 tonnes of copper last year, or some 8 percent of Chile's total output.

"(This year we are expecting) production slightly below what we had last year," Jorge Gomez told reporters at the launch of the mine's sustainability report, adding that output should return to former levels from 2016.

In the first half of 2015, production at Collahuasi - a joint project of Anglo American, Glencore Plc, and several Japanese firms - fell 10 percent compared to the previous year, impacted by maintenance at a processing mill and other factors.

"Things are still appearing that we didn't have on the radar and we are resolving them. We think it will bounce back over what remains of this year, nothing to worry about," said Gomez.

Chile's copper industry, the world's largest, is struggling with multi-year lows in the copper price, on top of ongoing difficulties such as low ore grades in tired deposits, floods, water scarcity and labor disputes. New projects are helping to boost output, however. (Writing by Rosalba O'Brien; Editing by Nick Zieminski)