Anglo American Sees 2010 Chile Copper Production Below '09 Levels
June 22 2010 - 6:35PM
Dow Jones News
With no new expansion projects coming online in 2010, the
Chilean unit of mining and natural resources group Anglo American
PLC (AAUKY, AAL.LN) will produce "slightly less" copper this year
than in 2009, a company executive said Tuesday.
Anglo American Chile, which is the Andean nation's
second-largest private-sector copper producer, churned out a record
669,814 metric tons of copper in 2009.
"According to the normal development of the mines, output will
be a bit lower than last year," Miguel Angel Duran, chief executive
of Anglo American Chile, told reporters during a visit to the
company's Los Bronces mining complex east of Santiago.
Anglo American Chile, however, is aiming to complete an
expansion of Los Bronces, its biggest mine, by the end of 2011,
Duran said. The expansion will bring copper production there to
some 400,000 tons per year from a current average of 230,000 tons
annually.
The company also owns and operates the Mantos Blancos, El
Soldado and Mantoverde copper mines in Chile, as well as the
Chagres smelter.
Anglo American Chile also owns a 44% share of the Collahuasi
mine. Diversified mining company Xstrata PLC (XTA.LN) holds another
44% stake in Collahuasi and the remaining 12% is held by a Japanese
consortium headed by Mitsui & Co. Ltd. (8031.TO, MITSY).
-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;
anthony.esposito@dowjones.com
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