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Chile’s largest open pit copper mine goes underground

Chile’s largest open pit copper mine, Chuquicamata, has officially started its conversion towards underground mining. The project will cost Codelco over $2 billion in the preliminary phase but will substantially increase production and extend the mine's lifespan.

Fitch gives Codelco an A+

Codelco possess 9% of the world's known copper reserves and the A+ rating reflects Codelco's total ownership by the Government of Chile and its strategic importance to the country.