Codelco's Andina project begins feasibility study

Codelco's Andina development project in Chile's Valparaíso region is starting the feasibility study phase, said Juan Francisco San Martin, manager of development and innovation at División Andina.

"Today we are starting the feasibility study phase, we are doing drilling campaigns to get precise information about resources and we have started feasibility engineering. The entire process is due to last 22 months," said San Martin.

He added that the project is one of Codelco's few structural initiatives that will add to copper production, unlike projects at Chuquicamata Underground or El Teniente New Mine Level which aimed to maintain output.

"What this project aims at is to increase production by 65,000t/d in addition to the 88,000t/d that we already have. It will add about 160,000t of fine copper to the present 200,000t per year," San Martin said at a mining conference organized by state-copper commission Cochilco in Santiago.

Initial capex is around US$2bn and the project is estimated to begin production in 2026, San Martin added.

"We think we will be able to reach the first quartile in the curve of costs with this project. And therefore, we believe this is the best way to increase profitability of this project," he said.