Lundin aims to strengthen Chilean presence after approval of project at key copper mine
SANTIAGO, Sept 15 (Reuters) - Lundin Mining hopes to strengthen its role as a major player in Chile's copper industry after a $600 million project for its key Candelaria mine was approved, a top executive said on Friday.
"The project involves the construction of various facilities and initiatives that, together, position us more strongly in copper production and represent continuous investment, local employment and development of local suppliers," the general manager of Minera Candelaria, Karina Brino, said.
She added that the approval means extending operations by another decade. Earlier this month, Chile's Environmental Assessment Commission gave the project the green light.
Candelaria produced 126,300 metric tons of copper in 2022. The company said the project will lead to 1,500 additional jobs, adding to the current workforce of about 7,000.
In April, Lundin agreed to pay $950 million for 51% of the Caserones mine in Chile that was held by Japan's JX Nippon Mining & Metals, a unit of oil and metals giant Eneos Holdings.
(Report by Fabián Andrés Cambero in Santiago Writing by Alexander Villegas Editing by Matthew Lewis)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.