Sierra Gorda would be ready to begin operations in late June
Sierra Gorda producirá 120 mil toneladas de cobre, 50 millones de libras de molibdeno y 60 mil onzas de oro al año.
Sierra Gorda is one of the largest copper projects in the world.
The Polish mining company KGHM, the second largest producer in Europe, said its mine Sierra Gorda of $ 4,000 million in Chile will begin operations this month as planned and that the international arm of the company in five years will become the main force driving the group.
“That is, in late June is a planned date for the mine implementation. Today I can say that it will comply, “said Herbert Wirth, CEO of KGHM to the Bloomberg weekly Businessweek.
Wirth added that KGHM International, the division of assets outside the mining company controlled by the state, would trade in a market that understands the details of the raw materials.
“To sum up, if this was a small IPO project, then it should be Toronto. If a larger one, then London, “Wirth said in the article.
The Sierra Gorda project, located in the Antofagasta Region, will have the capacity to produce 120,000 tons of fine copper per year, besides molybdenum and gold as byproducts. It will also be one of the largest producers of molybdenum in the world.
Source: Reuters
