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Chile's Antofagasta seeks copper mine extension with $1.2 billion investment

Published 20/06/2023, 20:35
© Reuters. Antofagasta Plc logo is seen displayed in this illustration taken April 10, 2023. REUTERS/Dado Ruvic/Illustration
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SANTIAGO (Reuters) - Chilean miner Antofagasta (LON:ANTO) applied for an environmental permit to extend operations at its Zaldivar copper mine through 2051, the company announced on Tuesday.

Antofagasta said its extension plan includes a projected investment of $1.2 billion for the base metals project.

The miner is asking regulators to prolong the mine's operations by 26 years. Afterwards, it would implement a mine closure plan, estimated to last until 2054, according to a company statement.

© Reuters. Antofagasta Plc logo is seen displayed in this illustration taken April 10, 2023. REUTERS/Dado Ruvic/Illustration

The mine's current environmental impact study permit, or EIA, will expire in 2025.

The requested extension will not modify the firm's previously approved production capacity, the company added.

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