chile copper mine equipmentused gold minning machine

esperanza copper-gold mine - mining technology | mining news and views updated daily

esperanza copper-gold mine - mining technology | mining news and views updated daily

Antofagasta began exploration at the mine in 1999. The board of the company approved the development of the project in July 2007. Marubeni partnered in the project by acquiring a 30% share in Esperanza in August 2008. Minera Esperanza, the contract mining company incorporated by Antofagasta in 2006, is currently operating the mine.

Aker Kvaerner was awarded a $1.5bn engineering, procurement and construction management contract. A feasibility study and preliminary works were conducted from August 2006 to September 2007. The development will be completed in two phases.

The mine began production in November 2010. The first shipment of copper concentrate was transported to Japan in January 2011. Production of molybdenum will start by 2015, with around 2,000t produced annually until 2025.

The measured, indicated and inferred sulphide mineral resources, along with ore reserves, were reported to be 1,204.4 million tonnes with an average copper grade of 0.45%, an average gold grade of 0.162% and average molybdenum grade of 0.012%.

During the first ten years, the average annual production is expected to be around 714,000t of concentrate inclusive of 190,000t of payable copper, 230,000oz of payable gold and 11.32Moz of payable silver.

Leaching of the run-of-mine low grade oxides at Esperanza started in the third quarter of 2009. Three gearless mill drive (GMD) systems were commissioned by ABB in May 2011. Processing of the pre-stripped oxide resources is handled at the El Teroso plant, 4km from the Esperanza mine.

The total capital cost of the mining project was estimated to be $1.5bn in 2007. The estimation included $162m for pumping, pipeline and desalination facilities to meet the projects water requirement. However, by early 2011, the total project cost escalated to $2.6bn.

The application for an environmental impact assessment was submitted in August 2007. All the essential permits and approvals have been received by the project. The mine has been constructed, developed and is being operated in accordance with International Finance Corporation environmental and social guidelines.

candelaria mining complex | lundin mining corporation

candelaria mining complex | lundin mining corporation

The Candelaria Copper Mining Complex comprises two adjacent copper mining operations, Candelaria and Ojos del Salado, that produce copper concentrates from an open pit and underground mines. The complex is indirectly owned by Lundin Mining (80%) and Sumitomo (20%), with Lundin Mining having acquired its ownership from Freeport-McMoRan Inc. in 2014.

Located in Chiles Atacama Region, Region III, at an elevation of approximately 650m above sea level and 20km south of the city of Copiap, the Candelaria Copper Mining Complex is easily accessed using the public road system. Copiap is a modern city with all regular services and a population of approximately 160,000. Employees come primarily from the Copiap region. The regional Atacama airport is serviced by daily commercial flights from Santiago and other destinations.

Candelaria is an open pit and underground mining operation providing copper ore to an on-site processing plant with a capacity of approximately 75,000 tonnes per day (tpd). Ojos del Salado comprises two underground mines, Santos and Alcaparrosa. The approximate 3,800 tpd capacity PAC processing facility receives ore from the Santos mine, while ore from the Alcaparrosa mine is treated at the Candelaria processing plant.

The Candelaria open pit mine operates with an overall mining rate of approximately 270,000tpd including approximately 43,700 tpd of ore sent to the Candelaria processing plant. Five phases of development remain in the life of mine plan as of June 2019. The overall strip ratio of the remaining life of mine plan is 2.4:1 including ore delivered to stockpiles.

The Candelaria underground, North and South Sectors, produce atapproximately 14,000 tpd on average.The Alcaparrosa underground mine produces approximately 4,400 tpd of ore and the Santos underground mine produces approximately 5,300 tpd of ore. The three underground mines of the complex utilize a sublevel stoping mining method for ore extraction.

The copper-gold sulphide mineralization found at the Candelaria Copper Mining Complex is generally referred to as iron oxide copper gold (IOCG) mineralization. Depending on lithology and the structural setting, the polymetallic sulphide mineralization can occur as veins, hydrothermal breccias, replacement mantos, and calcic skarns within andesite and tuff units. Candelaria has become an exploration model for Andean-type IOCG deposits that display close relationships to the plutonic complexes and broadly coeval fault systems.

The complex has been a significant producer of copper since the mid-1990s and ongoing exploration is conducted with the primary purpose of supporting mining and increasing estimated Mineral Resources and Mineral Reserves. Over $250million has been invested between 2010 and2020in exploration primarily in the proximity of the Candelaria open pit, the Espaola project areaand at the three underground mines. Exploration is currently focused on the known mantos, veins, and breccia masses in proximity to existing underground infrastructure. This strategy has proven very effective and has resulted in significant expansion of the Mineral Resource and Mineral Reserve estimates of the underground mines under the ownership of Lundin Mining and has contributed to the extension of their mine lives. Regional exploration is also undertaken on the large properties surrounding the mines to identify targets and define new areas with Mineral Resource estimates.

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the world's 20 largest copper mines

the world's 20 largest copper mines

The world's 20 largest copper mines produce nearly 9 million metric tons of the precious metal a year, about 40% of the world's total copper mine capacity. Chile and Peru, alone, account for more than half of the copper mines on this list. The U.S. makes the cut, as well, with two mines among the top 20.

Copper is expensive to mine and refine.The high costs of financing a major mine are reflected in the fact that many of the mines with the most production capacity are either state-owned or owned by major mining corporations like BHP and Freeport-McMoRan.

The list below is compiled from theInternational Copper Study Group'sWorld Copper Factbook 2019. Beside each mine's name is the country that it is located in and its annual production capacity in metric kilotons. Ametric ton is equal to about 2,200 pounds. A metric kiloton (kt) is 1,000 metric tons.

The Escondida copper mine in Chile's Atacama desert is jointly owned by BHP (57.5%), Rio Tinto Corp. (30%), and Japan Escondida (12.5%). In 2012, the massive Escondida mine accounted for 5% of total global copper mine production. Gold and silver are extracted as by-products from the ore.

Chile's second-largest copper mine, Collahuasi, is owned by a consortium of Anglo American (44%), Glencore (44%), Mitsui (8.4%), and JX Holdings (3.6%). Collahuasimine produces copper concentrate and cathodes as well asmolybdenum concentrate.

The Morenci mine in Arizona is the largest copper mine in North America. Operated by Freeport-McMoRan, the mine is jointly owned by the company (72%) and affiliates of the Sumitomo Corporation (28%). Morenci operations began in 1872, underground mining began in 1881, and open-pit mining began in 1937.

Cerro Verde copper mine, located 20 miles southwest of Arequipa in Peru, has been operational in its current form since 1976. Freeport-McMoRan, which holds a 54% interest, is the mine's operator. Other stakeholders include SMM Cerro Verde Netherlands, a subsidiary of Sumitomo Metal (21%), Compaia de Minas Buenaventura (19.58%), and public shareholders through the Lima Stock Exchange (5.86%).

The Antamina mine is located 170 miles north of Lima. Silver and zinc are also separated from the ore produced at Antamina. The mine is jointly owned by BHP (33.75%), Glencore (33.75%), Teck (22.5%), and Mitsubishi Corp. (10%).

The world's largest underground mine, El Teniente, is located in the Andes of central Chile. Owned and operated byChilean state copper minerCodelco, El Teniente has been mined since the 19th century.

Chile's state-owned Codelco owns and operates the Codelco Norte (or Chuquicamata)copper mine in northern Chile. One of the world's largest open-pit mines, Chuquicamata has been in operation since 1910, producing refined copper and molybdenum.

The largest copper mine in Africa, Kansanshi is owned and operated by Kansanshi Mining PLC, which is 80%owned by a First Quantum subsidiary. The remaining 20% is owned by a subsidiary of ZCCM. The mine is located approximately 6miles north of the town of Solwezi and 112milesto the northwest of the Copperbelt town of Chingola.

The Grasberg mine, located in the highlands of Indonesia's Papua province, boasts the world's largest gold reserve and second-largest copper reserve. The mine is operated by PT Freeport Indonesia Co., and the mine is a joint venture between regional and national government authorities in Indonesia (51.2%) and Freeport-McMoRan (48.8%).

Kamoto is an underground mine that was first opened by the state-owned company Gcamines in 1969. The mine was restarted under Katanga Mining LTD control in 2007. While Katanga owns the majority of the operation (75%), 86.33% of Katanga itself is owned by Glencore. The remaining 25% of the Kamoto mine is still owned by Gcamines.

TheBingham Canyon Mine, more commonly known asKennecott Copper Mine, is an open-pit mine southwest ofSalt Lake City. Kennecott is the sole owner and operator of this mine. The mine was started back in 1903. Operations continue through all hours of day and night, 365 days a year, but tourists can visit the mine to learn more and see the canyon in person.

Construction of the Sentinel copper mine began in 2012, and by 2016, commercial production was underway. The mine is 100% owned by First Quantum Minerals Ltd. The Candian company entered into Zambian mining in 2010, with the purchase of Kiwara PLC.

Olympic Dam, which is 100%owned by BHP,is a copper, gold, silver, and uranium mine. The dam operates both on the surface and underground, including more than 275 miles of underground roads and tunnels.

kingsgate to sell chilean project to tdg gold

kingsgate to sell chilean project to tdg gold

Australias Kingsgate Consolidated (ASX: KCN) said on Wednesday that Canadas TDG Gold Corporation (TSX-V: TDG) has agreed to buy the Nueva Esperanza gold-silver exploration project in Chile, for A$69 million ($52m).

The Aussie junior will also receive 4% of TDGs outstanding common shares calculated on a post-closing basis, with a further C$6.25 million ($5.9m) in cash becoming payable within three months of the completion of a definitive feasibility study.

Nueva Esperanza (meaning New Hope) is one of five gold projects set to begin operations in Chile over the next two years. The other ones areKinross Golds (TSX: K; NYSE: KGC)La Coipa Restart,Yamana Golds (TSX: YRI; NYSE: AUY; LSE: AUY) El Pen expansion,Rio2s (TSXV: RIO; US-OTC: RIOFF) Fenix.

Chiles gold production peaked in 2000 at 54.1 tonnes, data from the countrys copper commission,Cochilco, show. The nation, the no.1 copper producer and second-largest lithium producer after Australia, was one of the worlds 20 top gold producing nations between 2011 and 2013 but has since been displaced by neighbours Peru and Argentina.

With the closure of Kinross Golds La Coipa and Maricunga mines in 2013 and 2016, respectively, gold production dropped from more than 1.8 million ounces in 2013 to less than 1.3 million ounces last year.

home - international mining

home - international mining

International Mining (IM) is a global publication covering mining and minerals processing technology, methods, equipment and services. Read principally by the mining industry itself, it helps extractive operations, both surface and underground, keep abreast of the latest innovations and solutions to help them lower costs, increase performance and availability, enhance safety and of course maximise production. This includes everything from better maintenance and site audits, through to autonomy and digitalisation. From juniors through to the largest mining groups with multiple locations, mine managers know they can rely on IM to keep them in the know. Paul Moore, Editorial Director

Vale is starting activities with unmanned equipment for the removal of tailings from B3/B4 dam, at Mar Azul iron ore mine, in Nova Lima, and Sul Superior dam, at Gongo Soco mine, in Baro de Cocais both in Minas Gerais. Actions were assessed and approved by the Public Prosecutors technical auditor, in addition to[]

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mineral mapping, mining, geological mapping | satellite imaging corp

mineral mapping, mining, geological mapping | satellite imaging corp

Satellite imagery and aerial photography have proven to be important tools in support of mineral exploration projects. They can be used in a variety of ways. Firstly they provide geologists and field crews the location of tracks, roads, fences and inhabited areas. This is important for mapping out potential access corridors for exploration areas and considering the environmental impact of large project. The satellite map data is also useful for mapping outcrops and regolith systematics and vegetation cover across exploration blocks and over regional areas.

The Morenci satellite image above is an open-pit copper mine in southeast Arizona is North America's leading producer of copper. This processed and interpreted ASTER image used short wavelength infrared bands to highlight in bright pink the altered rocks in the Morenci pit associated with copper mineralization.

Satellite images can also benefit geologists, scientists, and exploration managers due to the multiple bands that the satellites carry which allow them to interpret wavelengths that cannot be seen by the human eye. Near infrared, short wave infrared, and thermal infrared can be used to identify the difference in structural features of the earth's surface.

Multispectral imaging and thematic mapping allows researchers to collect reflection data and absorption properties of soils, rock, and vegetation. This data could be utilized by trained photogeologists to interpret surface lithologies, identify clays, oxides, and soil types from satellite imagery.

In the example above, the left image displays visible and near infrared bands 3, 2, and 1 in red, green, and blue (RGB). Vegetation appears red, snow and dry salt lakes are white, and exposed rocks are brown, gray, yellow and blue. Rock colors may reflect the presence of iron minerals, and variations in albedo. The middle image displays short wavelength infrared bands 4, 6, and 8 as RGB. In this wavelength region, clay, carbonate, and sulfate minerals have diagnostic absorption features, resulting in distinct colors on the image. For example, limestones are yellow-green, and purple areas are kaolinite-rich. The right image displays thermal infrared bands 13, 12 and 10 as RGB. In this wavelength region, variations in quartz content appear as more or less red; carbonate rocks are green, and mafic volcanic rocks are purple.

Satellite Imaging Corporation (SIC) provides high resolution satellite maps for analysis and mapping applications such as Geographic Information System (GIS). Our imaging, Geographic Information System (GIS), Global Positioning System (GPS), and geodesy experts are highly experienced in image processing, orthorectification, georeferencing, feature extraction, and mosaicing for your specific project needs.

For many image requests, a matching image can be located in our global archives of satellite imagery. If no satellite map data is available in the archives, new satellite image data can be acquired through a satellite tasking process. Besides providing image data, Satellite Imaging Corporation performs many tasks in the background to ensure that we meet customer specifications and time schedules.

Satellite image data has been used by government, commercial, industrial, civilian, and educational communities throughout the world. The data is used to support a wide range of applications in such areas as global change research, agriculture, forestry, geology, resource management, geography, mapping, hydrology, and oceanography.

candelaria copper mining complex, chile

candelaria copper mining complex, chile

The Candelaria mining complex includes the Candelaria and Ojos del Salado copper mining operations in the Atacama region, Chile. The mines produce copper concentrates from open-pit and underground mines.

The Candelaria mining complex includes the Candelaria and Ojos del Salado copper mining operations in the Atacama region, Chile. The mines produce copper concentrates from open-pit and underground mines.

Operations at the Candelaria copper mine were suspended in October 2020 following a strike by workers over wages. Efforts are currently on to strike a deal with the working unions and restart production.

The proven and probable mineral reserves of the Candelaria mining complex are estimated to be 5.5 million tonnes (Mt) of copper, 3.23Mt of zinc, 108,000t of nickel, 977,000t of lead, and 6.8 million ounces (Moz) of gold, as of June 2019.

The life-of-mine (LOM) plan for the Candelaria open-pit mine involves supplying ore from the Candelaria and Espaola open-pits (located south of the Candelaria pit) to the Candelaria processing plant. The surface work-in-progress stockpiles are fed to the plant after the depletion of mineral reserves from the open pits.

The Candelaria open-pit mine has a mining rate of approximately 310,000t a day over the next ten years. The pit was designed for phased mine development, with five phases of development remaining in the LOM plan.

The operation involves a mining fleet of seven electric shovels, eight production drills, 43 haulage trucks, and support equipment. A major open-pit mine equipment re-capitalisation programme was substantially completed by the end of 2019. It involved the replacement of the existing rope shovels with new hydraulic units, as well as upgrading the majority of the truck fleet to the latest generation Cat 793F trucks.

The stopes are drilled down from the sublevel drilling drifts as benches using down-the-hole holes, which are loaded and blasted in vertical slices made by slot blasting. The blasted ore falls to the bottom of the stope to be collected at the production level below.

A tophammer rig drills holes within the undercut to be loaded and blasted with the downholes. The mucked ore is dumped into 60t underground trucks and hauled to a surface stockpile for re-handling and processing.

The Candelaria and Ojos del Salado mines operate their own processing plants. The Candelaria processing plant processes ore from the open-pit, as well as the three underground mines, with a nominal capacity of 75,000tpd.

It is a conventional plant with two parallel process lines for grinding and flotation. It receives reclaimed process water from a conventional tailings dam. The bulk copper concentrates undergo common filtration before they are shipped. The run-of-mine ore is transferred by trucks to a primary gyratory crusher, whereas grinding is undertaken in a multi-stage closed circuit using semi-autogenous grinding (SAG) mills, ball mills, and pebble crushing.

A multi-stage flotation circuit produces copper concentrates with the use of mechanical cells, regrind mills and column cells. The final flotation copper concentrate with gold and silver by-product metals undergoes thickening and filtration for on-site storage.

With a 3,800tpd design capacity, the Pedro Aguirre Cerda (PAC) processing plant processes ore from the Santos underground mine. It includes a closed-circuit crushing plant with a primary jaw crusher, a secondary cone crusher, and two tertiary cone crushers. The flotation plant employs conventional multi-stage, mechanical, flotation cells, column cells, and regrind milling for the final stage of concentrate cleaning.

The Candelaria infrastructure includes ancillary mine services, administrative buildings, and road accesses. A 40km-long pipeline from the Bodega pump station to the Candelaria plant site is also part of the infrastructure.

AES Gener has been providing electricity to the mining complex since July 2012. SG Drill was contracted for the completion of downhole surveys while SRK Consulting prepared the technical report for the project in 2018.

andina copper mine in valparaiso, chile | the diggings

andina copper mine in valparaiso, chile | the diggings

The Andina Copper Mine is in Valparaiso, Chile. The site was first discovered in 1904. The Andina Copper Mine is a surface and underground mining operation. Initial production took place in 1970. Mine operations consist of 3 distinct surface and underground workings. Underground features include 2 shafts and 6 adits. Subsurface depth reaches a maximum of 600 meters (1,969 feet). The mining method is block caving. As of 1980 there was one documented tabular shaped ore body extending 250 meters (820 feet) wide and 14 meters (45 feet) thick.

PUBLISHED INVESTMENT FIGURES ARE AS FOLLOWS $14, 500, 000 FOR PROPERTY ACQUISITION, EXPLORATION, ETC. OVER 11 YEARS (1957-1967 ). $89, 500, 000 FOR INITIAL MINE & MILL-10, 000 MTPD (1967-1970) $ 2, 191, 000 FOR MOLY PLANT (1975-1976 ). TOTAL INVESTMENT TO PRODUCTION (1957-1970) WAS SAID TO BE $157, 000, 000 (THE DIFFERENCE-$157-104 MILLION IS PROBABLY INFRASTRUCTURE COSTS (TOWN, PIPELINE & POWER LINE).

IN 1974, ANNUAL ORE PRODUCTION WAS 4, 050000 MT, 2274 EMPLOYEES, 17 MT PER MAN-SHIFT, 11 BLOCKS IN PRODUCTION, 4 BLOCKS IN DEVEL ., 8 MONTHS REQUIRED TO PREPARE A BLOCK. MILL (BULK FLOAT) IS UNDERGROUND DUE TO HEAVY SNOW & RUGGED TOPOGRAPHY. FIRST FULL YEAR OF PRODUCTION WAS 1971. PRODUCTION INCREASED FROM 53600 MT COPPER IN 1971 TO 68400 MT IN 1974 BUT HAS DECLINED TO ABOUT 58000 MTPY COPPER IN 1977&1978 DUE TO DECLINING GRADE. THE MINE + MILL WAS INCREASED FROM A NOMINAL 10, 000 MTPD TO 14, 000 MTPD BY 1978 BUT EVEN AT EXPANDED RATE THE PRODUCTION IS EXPECTED TO FALL TO ABOUT 52, 000 MTPY COPPER UNTIL 1982 AND THEN LEVEL OFF. THE EXPANSION TO 20, 000 MTPD IS ONLY BEING STUDIED IN 1979-1980. FOR THE PURPOSES OF THIS EVALUATION IT IS ASSUMED THAT THE EXPANSION WILL BE COMPLETE BY 1982. IT HAS ALSO BEEN ASSUMED, FOR THE PURPOSE OF SUPPLY CURVE STUDY THAT THE 135, 000, 000 MT ORE AT INDICATED LEVEL WILL BE MINED FROM THE YEAR 2004 ONWARD IN 1978 HINTS OF A POSSIBLE STRIKE APPEARED IN THE PRESS. FLOODING OF THE MINE OCCURED IN DECEMBER, 1978. THE MINE HAD BEEN CLOSED FOR 2 WEEKS AS OF DEC. 19, 1978 AND AT THAT TIME WAS NOT EXPECTED TO RESUME PRODUCTION UNTIL FEB. OR MARCH, 1979.

TOTAL UNDERGROUND RESERVES AS OF 12/31/86. TOTAL SURFACE OPERATION RESERVES AS OF 12/31/86. TOTAL COMB. RESERVES AS OF 12/31/86; USED IN 1987 EVALUATION. CODING MINING RCD. FOR MINING OF INDICATED ORE. IT IS ASSUMED THAT THE TONNAGES IN Q-MATRICES (AS REPORTED IN PUBLISHED LITERATURE) ALREADY HAVE THE 85% RECOVERY FIGURED IN.

1 World-class significance is determined by total endowment of the contained commodity. This includes all past production and remaining reserves. Each commodity is considered separately and commodities cannot be combined to arrive at a significant size. The tonnage thresholds are from the mine model grade-tonnage studies. As of June 2008, many entries were classified as significant under less strict rules.

Information hosted on The Diggings is based on publicly available data through the Bureau of Land Management. The Diggings accepts no liability for the content of this data, or for the consequences of any actions taken on the basis of the information provided.

The Diggings makes no warranty, expressed or implied, including the warranties of merchantability and fitness for a particular purpose, nor assumes any legal liability or responsibility for the accuracy, reliability, completeness or utility of these geospatial data, or for the improper or incorrect use of these geospatial data. These geospatial data and related maps or graphics are not legal documents and are not intended to be used as such. The data and maps may not be used to determine title, ownership, legal descriptions or boundaries, legal jurisdiction, or restrictions that may be in place on either public or private land. Natural hazards may or may not be depicted on the data and maps, and land users should exercise due caution. The data are dynamic and may change over time. The user is responsible to verify the limitations of the geospatial data and to use the data accordingly.

copper miner anotfagasta faces stiff new taxes in chile | barron's

copper miner anotfagasta faces stiff new taxes in chile | barron's

Shares of copper mining company Antofagasta look set to deflate because of a political lurch to the left in Chile, raising the possibility of higher taxes on resource companies. Recent drops in the price of copper arent helping either.

The major issue for U.K.-incorporated Antofagasta is Chile, where the companys mines are based. In May, Chiles lower house approved a bill that would impose a new royalty fee on producers operating in the top copper-producing nation.

The left-wing is on the ascension in Chile, and that doesnt bode well for where the taxes come out in the end, says Tyler Broda, head of EU mining research at Canadian financial company RBC Capital Markets in London. We think it is going to be hard for the shares to hold in where they are.

Broda sees the shares headed substantially lower, and rates the stock Underperform with a target price of 10.50 pounds ($14.60), 28% below the recent price of 14.49. Apart from avoiding owning the shares, risk-tolerant investors might consider shorting the stock. In other words, they could sell borrowed shares with the hope of buying them back at a lower price for a profit.

While the proposed law may get modified, it likely wont go away. The political backdrop is not promising for the government to stop this bill as it has stated it wants to, according to a recent report from Barclays. Our base case is that the bill gets passed in some form in the senate whether watered down or not remains to be seen. In other words, the likelihood is that royalty fees on copper miners will end up higher than they are now.

Thats particularly bad for Antofagasta because 100% of the firms net asset value is in Chile, according to RBC and Barclays. No other comparable copper miner is as exposed as Antofagasta. The company, which has a market value of 14 billion ($19 billion), declined to comment.

Two events partly sparked that copper market weakness. First, the Chinese government decided to release the metal from the countrys strategic reserve to help stabilize materials prices. Second, the Federal Reserve indicated it would likely raise interest rates sooner than investors had expected, making owning the metal less appealing.

Further weakness in the copper market would hurt Antofagastas revenue, but that downside looks limited, according to Carlos Sanchez, director of commodities management at commodities consulting company CPM Group. He sees the price remaining above $3.63 a pound over the long term.

Antofagasta produced 734,000 metric tons of copper in 2020, and smaller volumes of other metals such as gold and molybdenum. It posted a profit of 55 cents a share in adjusted earnings last year, with RBC forecasting $1.44 a share for the current year, which reflects the jump in copper prices over the past 12 months. However, RBC sees profits sliding to $1.08 and 79 cents a share in 2022 and 2023, respectively.

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nautilus minerals' plans to mine the seafloor sink deeper

nautilus minerals' plans to mine the seafloor sink deeper

Struggling Nautilus Minerals, one of the worlds first companies to plan on mining the seafloor, will soon join a long list of companies that have failed at attempts to extract minerals in remote places, as its creditors have voted this week in favour of liquidating the company.

The Canadian firm, which tried for years to fully develop its Solwara 1 gold, copper and silver project off the coast of Papua Guinea, faced relentless community opposition, culminating inlegal actionandpublic appealsto the government.

Those issues, together with environmental concerns and the fact that the company lost itsonly production support vessellast year, eroded investors support, forcing Nautilus to delist from the Toronto Stock Stock Exchange in March.

In the process, Nautilus has left the Papua New Guinea government, which still owns a 15% stake in the Solwara I project as well as equipment,facing a debtequivalent to one-third of the countrys annual health budget for its nine million people.

The company is essentially worthless. Its equipment is tailored to the mining of deep sea hydrothermal vents which the world now agrees are too ecologically valuable to mine, Deep Sea Mining Campaigns (DSMC) Andy Whitmore, said in a statement.

Unlike other seafloor mining companies, includingNautilus, DeepGreen doesnt want to drill, blast or dig the bottom of the ocean. The explorer, also Canadian, plans instead to scoop up small metallic rocks located thousands of metres below the surface in the North Pacific Ocean.

Companies exploring or already developing projects to mine the seafloor argue the extraction of those deep-buried riches could helpdiversify the sources currently supplying metalsneeded for electronics and evolving green technologies, such as electric vehicles (EVs) and solar panels.

Academics and scientists, including the DSMC a group of non-profit organizations and citizens from the Pacific Islands, Australia, Canada and the US are concerned by the lack of research on thepossible impactsof high seas mining. They fear the activity could devastate fragile ecosystems that are slow to recover in the highly pressurized darkness of the deep sea, as well as having effects on the wider ocean environment.

Inthe resolution, it also urged the European Commission to persuade member states to stop sponsoring and subsidizing licenses to explore and exploit the seabed in international waters, as well as within their own territories.

Shortly after, aninternational team of researcherspublished a set of criteria to help the International Seabed Authority (ISA), a UN body made up of 168 countries, protect biodiversity from deep-sea mining activities.

emr snaps up third copper mine, this time in chile - mining journal

emr snaps up third copper mine, this time in chile - mining journal

Under the deal, the Hong Kong-based private equity firm will pay US$230 million for the mine, plus about US$40 million through the sale of copper stockpiled at the operation and up to US$50 million in the future depending on the performance of the copper price.

However, the price is significantly lower than estimates of up to US$800 million made since BHP let it be known that it could sell the mine and that might disappoint the market, the analyst said in a research note.

In April, EMR unveiled a deal with Indonesia's Adaro Energy to buy the Kestrel coal mine in Queensland from Rio Tinto for US$2.25 billion. Last August it bought the Lubambe copper mine in Zambia from African Rainbow Minerals and Vale International for US$97 million and in March last year, it acquired the Golden Grove zinc-copper mine in Western Australia from MMG for US$210 million.

EMR's enthusiasm for copper, shared by most of the industry, is based on an expected market shortfall, as falling ore grades, rising production costs and a lack of new projects squeeze future supply, Chang explained.

According to BHP, the SX-EW operation has reserves totalling 76 million tonnes (average grade 0.59% Cu), suggesting a remaining mine life of about six years. Production has also been declining, from over 100,000t of copper a decade ago to just over 66,000t in 2017.

The life of the mine could be extended through the development of a hypogene deposit lying beneath the current operation. In 2015, BHP told analysts it had an indicated resource of 281Mt with an average ore grade of 0.58%.

Developing the sulphide resource is likely to require the construction of a new concentrator plant while the lack of water resources in arid northern Chile could necessitate the installation of a desalination facility, implying an investment of up to US$3 billion, Sterck said.

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