Codelco okays $1.4bn plan to expand Salvador mine

[Disir]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

 

[AMart]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

It is State owned. If they don't turn a profit the State loses money.

 

[Disir]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

It is State owned. If they don't turn a profit the State loses money.

That's the whole point.

 

[AMart]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

It is State owned. If they don't turn a profit the State loses money.

That's the whole point.

No it isn't. Revenue is not handed over to the state. They already own the revenue, filthy socialists.

 

[Disir]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

It is State owned. If they don't turn a profit the State loses money.

That's the whole point.

No it isn't. Revenue is not handed over to the state. They already own the revenue, filthy socialists.

Again. That's the point.

 

[AMart]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

It is State owned. If they don't turn a profit the State loses money.

That's the whole point.

No it isn't. Revenue is not handed over to the state. They already own the revenue, filthy socialists.

Again. That's the point.

If it was handed over that suggests they didn't control the revenue and that they must have taken the revenue at gunpoint.

 

[Disir]

Chile’s state miner Codelco, the world’s no.1 copper producer, has approved a $1.383 billion underground expansion of its Salvador mine, which will extend the productive life of the aging operation by 40 years and increase output by 30%.
The Rajo Inca project comes at a price tag 33% lower than the original 2014 estimate, thanks to the optimization of existing infrastructure and processes, Codelco said.

The expansion will convert Salvador, in operation since 1959, from an underground mine to an open-pit one.

Codelco okays $1.4bn plan to expand Salvador mine

It will convert Salvador, in operation since 1959, from an underground copper mine to an open-pit.

www.mining.com

All of their revenue is handed over to the state. As it should be.

It is State owned. If they don't turn a profit the State loses money.

That's the whole point.

No it isn't. Revenue is not handed over to the state. They already own the revenue, filthy socialists.

Again. That's the point.

If it was handed over that suggests they didn't control the revenue and that they must have taken the revenue at gunpoint.

It's a state owned company.

The company, which hands over all of its profits to the state, holds vast copper deposits, accounting for 10% of the world’s known proven and probable reserves and about 11% of the global annual copper output, with 1.6 million tonnes of production in 2019.

 

[Sunni Man]

"State owned" means a cabal of oligarchs get most of the profits and the citizens receive crumbs. ...