LME COPPER CASH

End-of-day quote. End-of-day quote  - 02/20
5730 -0.27%

Canada´s Teck to re-start work at Quebrada Blanca 2 copper project in Chile

08/10/2020 | 11:55am

SANTIAGO, Aug 10 (Reuters) - Canada´s Teck said on Monday it would reinitiate work on its Quebrada Blanca phase 2 copper project in Chile after shutting it down in March because of the novel coronavirus outbreak.

Teck vice president Amparo Cornejo said in a Chilean mining forum that the company was working closely with local authorities and hoped to reach full staffing levels at the project within three months.

"Obviously we will do this only if the health conditions in the country permit it," Cornejo said.

Vancouver-based Teck shut down the $4.7 billion Quebrada Blanca Phase 2 (QB2) expansion in mid-March as the first cases appeared in Chile. The project remained closed through the August as the virus overtook much of Chile.

Many of the region´s miners, including the state-run Codelco, put the brakes on mine expansion projects over the past several months to help control the spread of the virus. But Chile, the world´s top copper producer, nonetheless managed to maintain output from its active mines amid the crisis.

Teck has said previously it expects its Quebrada Phase 2 project to begin production in 2021 and ramp up to 316,000 tonnes at full capacity.

(Reporting by Dave Sherwood; editing by Grant McCool)

© Thomson Reuters 2020
Copier lien
All news about COPPER
2h ago
3h ago
5h ago
7h ago
14h ago