Chile’s Enami is in talks with producers and trading firms to secure funding for its $1.4 billion Paipote copper smelter project. According to Bloomberg, the move is part of the country's efforts to reverse the decline in its processing capacity.
Investing in the project may seem unattractive due to the global copper ore shortage and the US push for domestic production, but Enami’s CEO sees significant potential in the venture. It would use more efficient technology, while producing byproducts such as gold and sulfuric acid. These are the factors that make this initiative highly promising.
Enami will maintain 100% control of the facility. Company executives aim to launch the project by March of next year and expect to secure all required environmental permits by mid-year.
Meanwhile, Chile's copper giant Codelco plans to build a new smelter with private capital. The decision follows recent environmental challenges, including the closure of one facility for regulatory violations and ongoing compliance risks at another due to tightened emissions standards.