Codelco to Become Top 10 Silver Producer

Mining Weekly reported that Codelco’s $3-billion Ministro Hales mine project, which is set to reach production in the first half of 2014, will produce silver as well as copper, allowing the company to become one of the top 10 silver producers in the world.

As quoted in the market news:

The miner’s roughly $3-billion Ministro Hales mine, slated to reach full production during the first half of next year, is poised to help counteract declining ore grades in Codelco’s other mines.

‘This year I think we’ll produce 30 000 t of copper…at Ministro Hales,’ [CEO Thomas] Keller told reporters on site. ‘That will help us partially offset the production drop in deposits that are becoming exhausted, such as El Salvador and Chuquicamata.’

The deposit is forecast to produce roughly 180 000 t/y of copper . Silver will also be mined at Ministro Hales, allowing Codelco to become one of the world’s top ten silver producers, Keller added.

Click here to read the full Mining Weekly report.