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Large Scale Copper Mine Planned in Chile

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The state owned mining company Corporacion Nacional del Cobre de Chile is all set to build a new mine in the north of the country. The world’s largest copper producing firm is going to invest $2.2 billion in the Ministro Hales mine which will be located in Antofagasta.

The mine is about 970 miles from Santiago. It will be the single largest investment that Chile’s Codelco has ever made. However it expects to produce about 163,000 tons of fine copper from the Ministro Hales mine on a yearly basis once production starts. With Chinese demand for copper as high as ever this could spell spectacular profits.

A fact that Juan Medel the head of the Minsitro Hales division collaborates. According to him the mine has copper reserves of more than 1.3 billion tons and the average copper ore grade in 0.96 %. He hopes to mine 289 million tons of copper in the 14 years of the planned open pit mining operation.

CEO Diego Hernandez said that the project would be completed in 36 months in accordance with deadlines given by the Codelco board. About $133.4 million has been approved for planned capital investment outlays in the current year.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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