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Mantos Copper extends Schwager maintenance contract

By BNamericas Monday, February 11, 2019

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Chile-based Mantos Copper accepted a technical and economical offer from Schwager Energy and extended the latter's contract for maintenance at the Mantos Blancos (pictured) copper plant in Antofagasta region.

The contract is worth 1.8bn pesos (US$2.8mn) plus VAT for a period of 10 months as from March 2019, Schwager Energy said in a note to market regulator CMF.

Schwager said that the required working capital will be managed through available resources.

"From this contract it is expected that a percentage of profitability is obtained in accordance with the market. This contract will have a positive and direct impact on the financial statements of parent company Schwager Energy S.A. and ratifies that the company's main line of business is in the mining industry," the company stated.

In January Schwager Energy said that it won a US$45.2mn general maintenance contract at Codelco's Gabriela Mistral division.

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