Large mining companies achieve greater flow of investment in the last decade in 2013
With $ 949 million, the companies producing gold had a lower performance compared to the peak that occurred in 2011 and 2012.
The higher cost of energy, the deficit-and the associated higher-skilled labor force and the decline in ore grade, so far have not prevented country’s major mining keep investing.
This is because the 19 largest private industry players materialized in 2013 copper cash flow of $ 9.372 million, investments were 17% higher than in 2012.
This implies that the past year was as exercising with more investment made in this sector since 2004, as established by the statistical yearbook of the Chilean Copper Commission (Cochilco).
Moreover, in the period 2004-2013, this group of companies shape in the country U.S. $ 39,155,000, allocated resources to incorporate fixed assets as well as the purchase of property, plant and equipment.
At the company level, one of the most active has been Escondida, which in the last ten years disbursed U.S. $ 9,169 million, according to statistics. In fact, the company linked to BHP Billiton and Rio Tinto, is implementing a plan of U.S. $ 3,800 million to replace Los Colorados concentrator with a new treatment plant of 152 tons per day, and will also give the access to ore higher law, as established by the Mining Council land.
They also emphasize the resources for two projects that are ready to start production: Caserones from the Japanese Pan Pacific Copper, and Sierra Gorda from KGHM International.
According to data from Cochilco, at the end of 2013 the cumulative investment of both projects is U.S. $ 4,104 million and $ 3,296 million, respectively.
The gold mining had lower scores. After reaching a peak of investment in 2011 and 2012 it fell nearly 30% to U.S. $ 949.2 million in 2013.
According to this record, Minera Nevada (Pascua-Lama) spent $ 2.158 million between 2010 and 2013, and Casale, a project that has not yet given the go-ahead, recorded an outlay of U.S. $ 153 million.
State Commitments
There are also state efforts to accomplish these levels of investment. It’s Codelco and Enami.
In 2013 these companies paid U.S. $ 4,462 million, the highest figure in the last years and Codelco explains it in almost 100%.
In fact, the $ 22,161,000 invested by both companies in the decade, Enami materialized only $ 259 million.
Codelco is facing a period which may be of high investment, with a portfolio of projects for next years estimated at about U.S. $ 24,000 million.
Currently, the largest copper producer in the world are running the Nuevo nivel mina El Teniente, which will involve an outlay of U.S. $ 3,470 million.
This will allow the corporation to maintain operational continuity of the division, with 137 000 tons of ore per day.
In 2013 also completed and started operating the new division Ministro Hales, located five miles from Calama and involved U.S.$ 2,300 million in total investment.
Source: Diario Financiero
