Antofagasta PLC
13 May 2003
ANTOFAGASTA PLC
Los Pelambres submits Environmental Impact Study
for a potential expansion
LONDON: 13 May 2003 - Antofagasta plc announces that its 60%-owned Minera Los
Pelambres, located in Chile's Fourth Region, has submitted an Environmental
Impact Study which would enable the Los Pelambres copper mine to increase its
ore reserves to 2.1 billion tonnes.
Following approval, the mine life would be extended to 50 years at current
processing levels of between 114,000 and 120,000 tonnes per day of ore (tpd),
compared with the present 30-year mine plan. The required investment is
estimated at approximately US$300 million, which would be mainly for relocating
and increasing the capacity of the waste dumps and the tailings dam.
The Environmental Impact Study also covers the potential expansion of the
Concentrator to an average of 175,000 tpd, which is estimated to require a
further investment of US$450 million and which would be dependent on future
market conditions.
Los Pelambres produced 324,600 tonnes of payable copper in concentrates in 2002,
out of total Group production of 460,700 tonnes. The expansion would increase
annual production by approximately 100,000 tonnes.
Antofagasta is a Chilean-based copper mining group listed in the United Kingdom.
Ends
Enquiries - London Enquiries - Santiago
Antofagasta plc Antofagasta Minerals S.A.
Tel: +44 20 7382 7862 Tel: + 562 377 5000
Philip Adeane Francisco Veloso
Email: nwakefield@antofagasta.co.uk Email: fveloso@aminerals.cl
Issued by Keith Irons
Email: keith@bankside.com
Tel: +44 20 7444 4155
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