Press Release

Codelco will maintain production level for at least 10 more years

Bnamericas Published: Friday, May 24, 2019

Codelco statement

Chuquicamata Subterránea , together with five other Codelco structural projects, will allow to maintain a production of around one million 700 thousand tons.

Santiago, May 23, 2019.- Codelco will maintain its production level at an average of one million 700 thousand tons of fine copper during the next decade, as contemplated in the company's Business and Development Plan (PND).

Codelco's mining plan is based on current operations and exploitation projects that will progressively and systematically replace existing operations. Thus, the corporate promise associated with structural projects is to maintain production at current levels. In fact, in the last decade Codelco's average annual production was 1,692 thousand tons, and the previous one reached 1,589 thousand tons. The next ten years, the PND estimates the average annual production at 1,678.

In the case of Chuquicamata, since the extraction of the open-pit mine will extend until 2020 and the underground will begin to produce this year, the mining planning contemplates maintaining 100% the productive capacity, taking the concentrator with minerals remaining from the pit, from the stock of the mine pit, from the underground mine with a better grade and from a supplement of sulphurous minerals from Radomiro Tomic. In this way, it is ensured that the level of production of the district and the corporate standard are maintained.

This press release was published in English using an automated translation system

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