Collahuasi Copper Mine Prepares Reopening of Chilean Port
Collahuasi, the world’s third-largest copper mine, is preparing to reopen its port in northern Chile, six months after a ship-loader collapse killed three people, according to Xstrata Plc (XTA), one of the mine’s owners.
“We are in the middle of commissioning that now,” said Charlie Sartain, who runs the Zug, Switzerland-based company’s copper business. He declined to elaborate in comments to reporters today in Santiago.
Collahuasi’s operating company said in April that it lifted force majeure on shipments after negotiating alternative routes with local ports. The mine produced about 3 percent of the world’s copper last year.
Xstrata’s copper production will increase in the second half of the year and the company can meet its annual output target, Sartain said today.
Xstrata and Anglo American Plc (AAL) each own a 44 percent share of Collahuasi and a group led by Mitsui & Co. holds the remainder.
BHP Billiton Ltd.’s Escondida in Chile and Freeport McMoRan Copper & Gold Inc.’s Grasberg in Indonesia are the world’s largest and second-largest copper mines, respectively.
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