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Reuters reported that expansion plans have been delayed at Collahuasi, Chile’s second-largest copper mine. The mine is owned by Anglo American plc (LSE:AAL) and Glencore plc (LSE:GLEN). Cuts were previously announced at the mine.
Reuters reported that expansion plans have been delayed at Collahuasi, Chile’s second-largest copper mine. The mine is owned by Anglo American plc (LSE:AAL) and Glencore plc (LSE:GLEN). Cuts were previously announced at the mine.
As quoted in the market news:
On September 29, Collahuasi had said it was planning to cut output by 30 000 t, alongside dozens of jobs, because of difficult market conditions.
But a letter addressed to workers that same day, seen by Reuters on Wednesday, added that its growth project would also be delayed.
“The growth project has been postponed and operations at our company will be reduced,” the letter said.
Collahuasi has been mulling expansion plans to double the mine’s annual production to around one-million tonnes for some time, a plan originally slated to cost some $6.5-billion.
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