Chile - Investments for 21.600 million dollars in golden mining

The Chilean Commission of the Copper (Cochilco), he foresees investments concerning 21.600 million dollars in the mining of the gold and of the copper, in the period 2008-2012, according to a report of the state organism announced today.

“The above mentioned investment is top to foreseen in the previous report spread in December, 2007, that it was reaching 16.200 millions between 2007 and 2011, after the incorporation of the project The Knob of the company Xstrata and for the increase of the current projects in folder, added Cochilco.

The report established that of the global investment foreseen for the analyzed period, nearly 18.500 million dollars they will materialize in the mining of the copper, of which 8.150 million dollars, approximately, will correspond to the state Corporation of the Copper; approximately 9.850 million dollars to the big private mining, and the rest, approximately 460 millions, to the medium mining.

For the year 2009, as, Cochilco foresees investments in the mining of the copper and of the gold concerning 5.330 million dollars, what represents the biggest annual investment of the period 2008-2012.

In the mining of the gold and silver there are foreseen investments of the order of 3.140 million dollars between the year 2008 and 2012, which Easter and Hill Casale will be materialized by Barrick in the projects.

“Considering the projects that will materialize between the year 2008 and 2012, Cochilco thinks that the copper production at the end of the period in question will come to 6,8 million tons, what means a 23 per cent increase with regard to the production registered in 2007 ″, he added the report.

The principal projects of copper that will be started 2012 are Gabriela Mistral and Expansion Phase I of Codistributor; Hope and enlargement II The Hairs of Antofagasta Minerals; Amplición Fase I Collahuasi; Expansion The Bronzes of Angloamerican; Big houses of Bread Pacific Copper; the Knob of Xstrata, between others.

The red metal is the principal Chilean product and every cent of dollar in the annual average price supposes approximately 40 million dollars in taxes and approximately 90 millions in the balance of payments.

05-10-2008 EFE

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