Codelco close deal with Canadian mining to reprocess tailings from El Teniente division
Through its subsidiary Minera Valle Central, Amerigo Resources extended until 2037 the agreement it has with the state mining company, but is awaiting environmental permits
Low laws now operating mining companies have led many of them to think of reprocessed ore which was formerly waste dumps both sterile as in the tailings. One of the mining companies that are working on that line is Codelco. The state company last week sealed an agreement with Minera Valle Central, a subsidiary of Canada’s Amerigo Resources, for the latter to re-process the tailings deposited in Cauquenes dam, belonging to the El Teniente Division of the company.
As explained by Amerigo Resources, on Monday they received confirmation from board’s approval of the corporation to extend the agreement that both companies have, in order to operate on the premises of Codelco at El Teniente. This time, the agreement will operate until 2037, and not just operate for historical tailings, but also to which they deposit when it starts the Level Mining El Teniente new project.
“This is a major milestone in the history of our company. This will allow Amerigo Resources to double its annual production of copper and molybdenum starting in 2021 and up to 2037. Company anticipates they will receive final environmental permits in a few months, period during which the company and El Teniente will work together to complete the details of the agreement. In addition, we will work on getting the necessary funding, “said the CEO of the Canadian mining company, Klaus Zeitler
Source: Pulso
