September 30, 2016 / 7:37 PM / 3 years ago

Codelco submits plan to keep Salvador mine going

SANTIAGO, Sept 30 (Reuters) - Chile’s state-owned Codelco submitted to environmental regulators on Friday a $55 million project to give operational continuity through 2021 to its Salvador copper mine, the company’s smallest and costliest deposit.

World No.1 copper producer Codelco is battling to keep a lid on costs at Salvador, which produced 49,000 tonnes of copper in 2015, to ensure production is viable at a time when copper prices are low.

The project will ensure “the continuity of its sulphide and oxide mining operations, making use of the existing installations and maintaining the plant’s processing rates of 32,000 and 25,000 tonnes per day, respectively,” Codelco said in a document presented to the regulator. (Reporting by Anthony Esposito; editing by Grant McCool)

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