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Chile’s owned copper giant Codelco is eying to acquire a 10% stake in Teck’s Quebrada Blanca copper mine, currently held by state mining firm Enami, in a deal valued at about $500 million., as Codelco would get a hold of a new, massive and long-life copper asset, while Enami could improve its balance sheet and finally be able to partly finance a new smelter.
“We cannot provide information on this matter because it is under a confidentiality clause,” Enami, which groups small and medium mining projects in the country, told La Tercera. Enami’s problems have not disappeared — it currently is facing financial difficulties, as its Paipote smelter in the northern province of Atacama remains halted due to pending renovations.The QB mine is located in northern Chile at an elevation of 4,400 metres, about 240 km southeast of the city of Iquique and 1,500 km from capital Santiago.
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