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Snapshot: Mining assets to be sold by Copec’s subsidiary

Bnamericas Published: Tuesday, March 10, 2020
Snapshot: Mining assets to be sold by Copec’s subsidiary

Copec's mining subsidiary, Alxar, will sell three of its Chilean mines plus a leaching plant, but keep focusing on the Mina Justa copper project in Peru's Ica region.

The sales plans come after Copec reported a US$206mn loss for 4Q19 as losses in its mining operations reached almost US$44mn.

ASSETS FOR SALE

El Bronce and Botón de Oro

Operations at the underground mines in Valparaíso region, bought by Alxar in 2011, are currently halted. The company started works to explore the geological potential of the properties.

Alxar used to sell part of the mines' gold, silver and copper concentrates production to national mining company Enami.

Facilities also include a concentrator plant and a laboratory.

Choquelimpie

The gold, silver and copper mine in Arica and Parinacota region was out of operation for 20 years.

In 2011, Alxar tried to reactivate it through local subsidiary Minera Can Can and announced the construction of a processing plant.

Copiapó plant

According to BNamericas' company database, the leaching plant produces doré recovered from gold and silver. It is in the city of Copiapó and operated by subsidiary Compañía Minera Paso San Francisco.

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