The state-run copper miner is looking to resume mining in areas of the El Teniente complex unaffected by a collapse that killed six people.
Codelco is fielding questions from Chilean authorities in a bid to restart parts of its biggest copper mine in Chile The state-owned miner submitted a plan to resume underground mining in areas of the El Teniente complex unaffected by a collapse thatCodelco has responded to three requests for further information from mines regulator Sernageomin and the Labor Directorate, the company said late Wednesday.
Under the plan, an investigation into causes of the incident and the implications for safety and operations would continue during the restart, the people said, asking not to be identified discussing private talks.While there are no assurances the plan will be approved, a resumption of mining — albeit at a reduced rate — would give a welcome boost to global metal supplies. El Teniente churns out about 30,000 tons a month, a quarter of Codelco’s production. The July 31 collapse in a new section of the mine is a major setback for the company’s effort to recover from a years-long output slump and will add to delays in rolling out investments to overhaul aging operations. Codelco is committed to resuming operations as soon as conditions allow, it said in a filing Monday. The main union at El Teniente said it’s hoping to have an agreement in place soon that would allow a gradual return to work.The State Department has already begun talks with the South Pacific nation for research on seabed mineral exploration and development.Gold price halts rally as market assesses Fed policy, tradeFirst Quantum scores $1B streaming deal with Royal Gold Deal gives First Quantum the full amount upfront for future gold produced as a by-product at its Kansanshi mine in Zambia.
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