Mitsubishi Materials Corporation (President: Naoki Ono, Equity: 119.4 billion yen), which indirectly holds a 10% interest in the Los Pelambres copper mine in Chile, has reviewed an expansion project to increase its copper production and the expansion project is now approved by the shareholders.
The construction will start at the beginning of 2019 and first production is expected in mid-2021. Throughput at the mine will be increased to 190,000 tonnes of ore per day. Annual copper production will increase by an average of 60,000 tonnes over the first 15 years of operation.
The expansion project includes increasing the capacity of its concentrators and the construction of a desalination plant, with the total capital cost expected to be approximately US $ 1.3 billion.
Through this expansion project, we will strive to raise the value of our important asset, the Los Pelambres copper mine, and achieve a stable supply of its copper concentrates.