Codelco to complete $27 billion investment by 2016
National Copper Corporation of Chile (Codelco), the world’s largest copper producer will increased the investment by US$8 billion during 2012 and 2016 due to higher costs. The total investment will reach US$27 billion.
The company stated that it planned to increase the investment as the costs of some organization project was estimated to rise by US$5 billion during 2012 and 2016.
In addition, the costs of some developing projects have surged substantially. For instance, the investment of underground mines in Chuqui increased to US$3.7 billion and the investment of Radomiro Tamic Fase II rose to US$5 billion.
News Date 10 May 2012 12:01:11 reported by Ruth Wang