Minera Valle Central plans to double its current production of copper
CEO Raúl Poblete said they recently signed with Codelco an extension to the existing contract, for which the period for granting fresh tailings treatment will be extended to 2037.
Minera Valle Central (MVC) is controlled 100% by Canada’s Amerigo Resources since 2003, so it became a focus of economic growth, and under that context is that recently managed to extend application of the treatment of tailings from El Teniente Division of Codelco to 2037. Its CEO, Raúl Poblete explained the MVC’s results and about its enlargement process: reaching 40,000 tons of copper annually.
– What were the profits last year?
– MVC as part of Amerigo Resources consolidates its financial statements with the head office, where there are other projects and activities. From the point of view of MVC, it was obtained an EBITDA of around U.S. $ 22 million, with a direct unit cost of U.S. $ 2.10 per pound of copper before royalty.
-To date, how do you envisage the production of 2014?
– In 2014 it is planned to maintain production levels as of last year.
– What are the MVC’s growth projections?
– MVC recently signed with Codelco an extension to the existing contract, for which the period for granting fresh tailings treatment will be extended to 2037, and where further includes the exploitation of content in tailings in the Cauquenes Dam adjacent to Colihues reservoir. This allows to undertake a program to increase the capacity to benefit that will take the company to production levels about twice the current, 40,000 tons of fine copper annually.
– How to leave expansion plans?
– They have progressed in the areas of engineering and procurement of major equipment, preparing the corresponding specifications by the time it physically starts the construction works which are yet to be defined.
– The expected environmental permits by the end of 2013 have materialized?
– The process has followed the usual course for this type of activity, so it is necessary to wait for the delivery of different actors (…). We expect the final approval within the next 30 to 60 days.-
Source: Estrategia
