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13 May 2025 | Other

Codelco and Rio Tinto plan to increase copper mining volume in Chile — Reuters

Copper
Codelco and Rio Tinto plan to increase copper mining volume in Chile — Reuters

Chilean copper producer Codelco and global mining company Rio Tinto are planning to develop a copper mining district around their joint Nuevo Cobre project in the Atacama region of northern Chile. Codelco representatives reported this as a part of yesterday's announcement.

Moreover, in this statement the company denoted the terms of a new agreement, which involves a creation of a shared committee and joint funding of preliminary studies. They will be carried out during the first year with the possibility of further extension.

According to Rio Tinto’s CEO Jakob Stausholm, one of the key intentions of both companies will be to increase the welfare of the area by creating infrastructure.

Elizaveta Kuzmicheva MarketCheese

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