SANTIAGO – The BHP Billiton says it will spend US$2.46 billion to extend the life of a copper mine in Chile by 50 years.
The expansion of the Spence open cut mine will deliver 185,000 tonnes of copper per annum in the first 10 years of operation, with first production expected in the 2020/21 financial year, chief executive Andrew Mackenzie said in a statement.
“Execution of the Spence growth option will create long-term value for shareholders in one of our preferred commodities.
“The project significantly extends the life of our Spence operation and unlocks the potential of the large, quality resource,” he added.
