Project Development Resumes at Antucoya

Antofagasta plc announced on March 27, 2013, that Minera Antucoya, owned 70% by Antofagasta and 30% by Marubeni, will resume development of its Antucoya copper project in Chile’s Antofagasta region. The decision followed completion of a full review of the project announced in December 2012, when project development was tem-porarily suspended. The review included renegotiation of principal construction con-tracts, additional detailed engineering, and an updated resource model following further drilling of the deposit.

Development costs for the Antucoya project now are expected to total $1.9 bil-lion, of which $0.5 billion had been spent when development was suspended in December. Operations are expected to begin during 2015, with production fore-cast to average 85,000 mt/y of copper cathodes over the first 10 years of the mine’s life.

As featured in Womp 2013 Vol 05 -