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CHILE: Development plans for proposed $3,000,000,000 copper mining expansion project,...

PROJECT OVERVIEW:

The local CORPORACION NACIONAL DEL COBRE DE CHILE (CODELCO) is currently planning to increase copper production coming from its northern mines by 55%. The proposed expansion is set to follow the merger of its Chuquicamata and Rodomiro Tonic mines.

According to Carlos Rubilar, CEO of Chuquicamata and soon to be appointed CEO of COLDELCO NORTH, his company is planning to invest $3,000,000,000 in the proposed expansion project. In so doing, an initial $300,000,000 is to be committed this year.

The deposits, to be developed over se

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