Lundin seeks Chile permit for $150M Caserones upgrade

Canada’s Lundin Mining (TSX: LUN) has actually obtained ecological authorization in Chile for a $150 million project focused on enhancing facilities and prolonging running connection at its Caserones copper-molybdenum mine to 2039.

The business sent the task for testimonial to Chile’s Environmental Analysis Solution on Jan. 6 with its regional system, SCM Minera Lumina Copper. Lundin claimed the strategy concentrates on functional enhancements without altering authorized manufacturing degrees or fresh water usage at the Atacama Area possession.

The choice comes as copper rates struck document highs, touching almost $14,000 a tonne in London previously today. The rally has actually sustained a current rise in industry mergings and procurements, as miners progressively favour a “get over construct” approach amidst an impending supply shortage and the increasing expense and intricacy of creating brand-new mines.

Caserones, found in the Tierra Amarilla neighborhood, is anticipated to generate in between 127,000 tonnes and 133,000 tonnes of copper this year, in accordance with the business’s support.

The proposition maintains the mine’s authorized operating life and input and result quantities unmodified from the initial 2010 license. Planned functions consist of brand-new gain access to roadways, a fresh water storage tank, and 2 back-up sulphuric acid tank to safeguard supply, according to the ecological influence research. Lundin likewise intends to increase seeping capability by 90 Mt and expand procedures at the solvent removal and electrowinning plant.

The task stands for the following stage of the Caserones functional change program, which obtained regulative authorization in 2014.

Top-ten aspirations

Lundin intends to place amongst the globe’s leading 10 copper manufacturers, targeting yearly result of 500,000 tonnes of copper and regarding 550,000 ounces of gold within 3 to 5 years.

The approach centres on brownfield growths at Candelaria and Caserones in Chile and Chapada in Brazil, in addition to brand-new growths in the Vicuñan area on the Chile– Argentina boundary, consisting of the Josemaría and Filo del Sol tasks.

Caserones is possessed 70% by Lundin and 30% by Japan’s JX Advanced Metals. The mine procedures regarding 84 Mt/a of ore, has milling capability of 100,000 t/d, and can generate approximately 35,000 t/a of copper cathodes. While the procedure creates component of Lundin’s district-scale Vicuña technique, decreasing ore qualities in Chile are anticipated to lower result by 2027 to 105,000-115,000 tonnes

To sustain possible future growth, Lundin has actually tipped up expedition around Caserones, finishing 18 km of drilling in 2025.

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