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Riesco Island Project

Location

Riesco Island, Chile.

Ownership

Minera Isla Riesco concession (100%).

Mineral type

Low-quality sub-bituminous coal.

Reserve base

300Mt

Annual production

4Mt/y capacity, rising to 6Mt/yat full capacity.

Mining method

Open pit.

Processing method

Washing plant.

Employment

200

Key Equipment

New coal export port/terminal being constructed at a cost of $50m with a capacity of 140,000t colliers and 43 ship calls per year.

Start of mining operations

2012

Sponsors

Empresas Copec (50%); Ultramar (50%)

Port Construction Contract

BELFI Construction Company

Technical assistance

Komatsu Chile

Financial support

Itaú Bank
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