ST. GEORGE, Utah – Kimberly Parry Organics will be acquiring multiple significant revenue producing copper mining sites in Chile.
The Utah-based company has entered into agreements to purchase 23 copper mining sites in the South American country which produces a third of the world’s copper.
The company will also be changing its name to KPOC Mining Inc. to better reflect the public company’s exit from the organic cosmetics marketplace. The company will be acquiring the assets in Chile through its majority owned subsidiary, KPOC Mining Chile.
KPOC Chile will also oversee all aspects of the day-to-day operations in South America, according to a press release.
The company’s president, Theodore Collas says the KPOC’s transformation to copper mining is a wise one. “If you want to mine copper, Chile is the world’s most desirable location. The country is rich in untapped deposits.”
“Our geologists have determined that each of mining properties will be highly commercially productive. We believe that development of the first mining site will commence in the first half of 2018, and the remaining sites will be developed over a three- year period.”
Seven of the top 14 largest copper mines in the world are located in Chile.