SQM talks with major mining companies to develop copper Project
It will invest over $ 150 million in metal exploration in the next five years. Unexpectedly, SQM has been taking major role in the metal mining exploration within the country.
The company which has traditionally been dedicated to the exploration, exploitation and sale of non-metallic minerals, linked to Julio Ponce, expected to invest heavily in future challenges related to copper and gold. So much so that already estimated disburse-associated with other juniors-about $ 150 million in exploration of these minerals in the next five to seven years, said Darryl Lindsay, SQM Metal Business Development Manager at the VII International Forum Exploration of the Week Cesco. Even such an investment “could be growing,” acknowledged the executive.
Faithful Rosita
“Faithful Rosita is our most mature project. Is in the Vallenar Area, in the middle of other major mining developments of major corporations, as Caserones (linked to JX Nippon Mining and Metals and Mitsui) and Candelaria (linked to Freeport Mc Moran and Sumitomo), “said Lindsay, adding that precisely in SQM are in talks with major companies to try to develop the copper-gold project in joint venture.
SQM’s Metal Business Development Manager expects that Faithful Rosita to pass the prefeasibility stage “within the next two years”.
Positive outlook for exploration
SQM intends to maintain, or even increase their spending on exploration this year compared to 2013, said Lindsay. So far, the company has about 50 areas of metal interest explored and in 20 of these, SQM is associated with other junior companies like Capstone Mining, Estrella Resources, Arena Minerals and Endeavour Silver.
SQM’s policy is that “if the project is interesting and has the characteristics of profitability and size needed, we could continue it, even to the operational phase,” explained Lindsay.
Codelco also advances
Moreover, yesterday Codelco confirmed at the Exploration Conference Cesco its explorations in the El Teniente District threw an intersection of 550 meters grading 1% copper in the La Huifa. “This opens a potential of 200 million tons of ore,” said Jorge Camacho, exploration manager of the state Company, adding that it is “a site of large-scale mining, with a very good average grade of copper.”
Source: Diario Financiero
