BHP invests U.S. $ 219 million in exploration with a focus on Chile and Peru
Giant Anglo-Australian BHP Billiton yesterday revealed its investment plan for 2014, as part of its operational half of the financial year ended December 31 report.
In the section of the mining exploration the company indicated that it plans to spend U.S. $ 219 million, with the intention of prioritizing objectives of copper in Chile and Peru.
The company said that at this stage of the year has already paid $ 195 million for this item.
The BHP Billiton’s overall investment plan considers a total of U.S. $ 16,100 million, while in regard to the business performance of copper, which has a presence in Chile, through the 57.5% stake in Escondida, operating site by the Angloaustralian said that the first half of this year production increased by 7% to 564 thousand tons, which said the company-this operation is on track to reach 1.1 million tons of fine copper by the end of the financial year 2014, while in 2015 would reach 1.3 million tons.
Spence, part of the BHP’s Pampa Norte division, which includes Cerro Colorado, had a positive productive balance, because between September and December 2013 increased its production by 37%.
“Spence’s recoveries improved during the period. Spence achieved a performance record in the six months ended mill in December 2013, which will be the basis of a strong increase in production during the second half of the financial year 2014, “BHP Billiton said in its report.
Source: Diario Financiero
