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SANTIAGO, Jan 13 (Reuters) - World No.1 copper producer Codelco said on Wednesday that Chilean environmental authorities approved its $5.4 billion Radomiro Tomic sulfides project, a key part of the state-owned company’s plans to boost production.
Codelco will build a 200,000 tonne per day concentrator and a 1,600 liter per second sea-water desalinization plant that will allow the new project, located in Chile’s arid Atacama desert, to operate without the use of fresh water.
A third of the total investment at Radomiro Tomic sulfides will go toward environmental mitigation measures, Codelco said.
Codelco, like other mining companies, has been reeling from the continued slide in copper prices. (Reporting by Gram Slattery; Editing by Leslie Adler; Editing by Anthony Esposito)