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Chilean miner Collahuasi, Teck in talks about resource sharing


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Chilean miner Collahuasi, Teck in talks about resource sharing

Chilean miner Compañía Minera Doña Inés de Collahuasi SCM is in discussions with Teck Resources Ltd. about resource sharing, Reuters reported Jan. 9, citing Executive President Jorge Gomez.

The talks are part of Collahuasi's efforts to seek "synergies" with companies operating near its Collahuasi copper mine. These cover sharing pipe and power lines and maritime facilities, as well as possibly sharing desalinated water.

Collahuasi recently filed an application for a US$3.2 billion expansion project, which would lift its output to 710,000 tonnes per annum, while Teck approved the phase-two expansion of its Quebrada Blanca copper project, also in Chile.

"We have many things in common that we have been talking about over time and which is helping both them and us in terms of construction and future developments," Gomez said.

Collahuasi is considering building an aqueduct to transport residual desalinated water from Quebrada Blanca as a backup resource, according to the report.

Chilean copper agency Cochilco recently projected that the country's copper industry will triple its use of sea water in the next decade, and also expected production of the commodity to rise by nearly 30% to 7.25 million tonnes over the same period.

Glencore PLC and Anglo American PLC each own a 44% stake in Collahuasi, while the remaining 12% is held by Japan Collahuasi Resources BV.