BHP Group’s total investment into aging Chilean copper projects may amount to $10.8 billion, as the world’s biggest miner tries to offset the slump in production.
The first step in the company’s plan would be an upgrade to its processing plant at the Escondida project worth $2 billion, Bloomberg reported.
BHP’s pipeline in Chile also includes an entirely new plant at Escondida, which could cost anywhere from $4.4 billion to $5.9 billion, according to a presentation late last year. Also being looked at is new leaching technology and a possible restart of the Cerro Colorado mine.
The projects would see BHP produce at an average annual rate of about 1.4 million tonnes next decade in Chile. Without the investments, that output would drop to about 900,000 tonnes.
Theodor Lisovoy, Managing Editor, Rough&Polished
