Codelco says it will wait to evaluate financing for El Abra expansion

Reuters | July 24, 2024 | 11:28 am Top Companies Latin America Copper 
Foreign miners in Chile warn lawmakers fresh royalties would hammer competitiveness
The El Abra mine in northern Chile. (Credit: Consejo Minero)

Chile’s state-run copper firm Codelco will await feasibility studies about expanding the El Abra mine before evaluating a financing strategy for the joint owned project, Codelco chairman Maximo Pacheco said on Wednesday.

US miner Freeport McMoran, which owns 51% of the mine, plans to invest around $7.5 billion to expand.

(By Fabian Cambero and Daina Beth Solomon)

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