Codelco set to suspend operation of two smelters
Chilean state-copper producer Codelco will suspend operations at two smelters at the Chuquicamata and El Salvador divisions in December to comply with environmental regulations and modernize the facilities.
The smelters will stop operating for 75 and 45 days, respectively, as from December 13, reported Bloomberg. Codelco confirmed the information to BNamericas.
By this date, copper smelters and arsenic emitters must comply with supreme decree 28, which requires them to have the necessary technology to capture at least 95% of the gases they emit.
During this period, the company will also conduct annual maintenance works.
This announcement comes amid forecasts of a copper supply deficit. At the beginning of this month, the International Copper Study Group said that consumption of copper will exceed production by 90,000t this year.
According to the company's 1H earnings report, the company will invest around US$2.1bn to comply with the law at its four smelters, Ventanas, Chuquicamata, El Teniente and El Salvador.
The company invested US$113mn in its Ventanas division in 2013 to upgrade the facilities.
Codelco will also invest US$997mn at Chuquicamata and the modernizations have already progressed 66%. In this division, two new acid plants and a new system for drying and treating refined gas are due to begin operations at the end of February, according to Bloomberg.
The El Teniente smelter modernization has advanced 64% and the company plans to invest a total of US$602mn in it.
In the El Salvador division, Codelco will invest another US$428mn, which includes improvements in gas capture and processing and black smoke treatment.
LAYOFFS AT EL SALVADOR
The reformulation of El Salvador and Codelco's new Rajo Inca project will demand the layoff of around 1,000 workers between now and mid-2019, the company confirmed to local newspaper Pulso.
"There will only be contribution of sulfide ore from the underground mine to the concentrator plant at approximately 60% of its capacity, which will mean the decrease of movement and treatment of material and the need to adjust the internal and external workforces and resources such as transport, logistics, food and general services, among others, which will mean a smaller workforce of contractors and own employees between 2018 and 2019," said the company.
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