BHP has initiated a $2 billion project to optimize its concentrator at Escondida mine, part of a larger $10.8 billion investment in Chile. The plan aims to sustain production and benefit the Antofagasta region. Environmental permits will be sought shortly.
BHP Billiton has announced its decision to proceed with a $2 billion optimization plan for the concentrator at the Escondida mine, recognized as the largest copper mine globally. This initiative marks the inaugural project in BHP’s extensive investment strategy for Chile, earmarking a total of $10.8 billion over a decade, as detailed in a company statement released on Tuesday. The firm indicated its intention to file for environmental permits for the plan in the near future.
Alejandro Tapia, president of Escondida, emphasized that this plan not only sustains production levels at the mine but also entails a significant $10 billion investment that will have positive ramifications for the region of Antofagasta and the broader Chilean economy. The announcement coincided with a visit to the mine by Chile’s Finance Minister Mario Marcel, who highlighted that most foreign investments in Chile are typically derived from companies already operational in the country. These companies seek to innovate and reinvest the profits from ongoing projects into new ventures.
In summary, BHP’s commitment to a $2 billion concentrator optimization at Escondida represents a crucial element of its larger $10.8 billion investment plan in Chile. This initiative aims to maintain production levels while also contributing significantly to the local economy. The environmental permitting process is set to commence soon, reflecting BHP’s proactive approach in enhancing operations in the region.
Original Source: www.mining.com
