Vedanta pays $246 million to regain Zambia copper mines
The metals and energy major plans to ramp up copper production from the mines to 300,000 tons a year and cobalt output to 6,000 tons.
Chilean state miner Codelco said on Thursday that sales and shipments of copper had not yet been impacted by the spread of coronavirus, even as it took precautions to ensure the safety and security of its workers.
The world´s largest copper miner told Reuters it had secured its supply chain and key inputs like sulfuric acid ahead of the outbreak, ensuring operations could continue.
On Wednesday, the company announced a plan to scale down operations to contain the spread of the virus and adhere to new restrictions announced by Chile’s government.
Chile is the world’s top producer of the red metal.
Besides Codelco, the mineral-rich nation is home to massive copper mines run by BHP, Teck, Glencore Plc, Freeport-McMoRan Inc and Antofagasta Plc, several of which have already announced strict virus-control measures at their sites.
(By Fabian Cambero and Dave Sherwood; Editing by Edmund Blair and David Gregorio)
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