Corporación Nacional del Cobre de Chile (Codelco) will invest $875m in initial works to transform Chuquicamata open-pit mine into an underground operation.

Codelco will carry out initial works on reserves buried under the deposit, which are expected to be completed in five years.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Chuquicamata mine has estimated underground copper and molybdenum reserves of 1.7 billion tonnes, and the new underground operation is expected to produce 340,000t of copper.

Codelco is planning to spend about $17.5bn to increase the copper output to 1.8Mt by 2014 and to a further 2.1Mt by 2020.

The overhauling is scheduled to be completed in the first half of 2019, reports Reuters.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Mining Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Mining Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact

Excellence in Action
Recognised with the Research & Development Award , Nokia’s Cognitive Digital Mine uses AI, IoT and digital twin technology to deliver predictive, self-optimising mining operations. Learn how Nokia’s Digital Twin Black Box is enabling safer, more efficient and more profitable mines worldwide.

Discover the Impact