Codelco expects to reach lithium agreement with SQM this year
Its chairman also expects the market to maintain its confidence in Codelco, despite rating agency Moody's giving notice of a possible ratings downgrade.
e miner said it has the second largest nickel sulphide resource base globally, based on its land holding in the Agnew-Wiluna belt in Western Australia.
The PEA outlines primarily an underground block cave mining operation supplemented with a small open pit, and is planned to operate for 39 years with a peak mill feed production of 170,000 t/d.
The Mt Weld mine has deposits of rare earths elements neodymium and praseodymium, which are in high demand for making magnets used in electric vehicles and wind energy generation.
Lundin said Monday it had halted development work near the site, but that the sinkhole didn’t affect the community, workers or its annual output guidance.