“ New projects and partnerships are part of the essence of what we do in Codelco ”
MAXIMO PACHECO CHAIRMAN CODELCO from a production slump and surging debt . Codelco Chairman Maximo Pacheco told investors he expects “ some conclusions ” this year around talks for an operational tie-up between its Andina mine and Anglo American adjoining Los Bronces mine . The deal would see the companies tap rich ore sitting between the two mines , as well as sharing processing plants .
For Codelco , squeezing more out of existing operations – as well as sharing risk and investments – has real appeal , given that production levels are at the lowest levels for 25 years .
“ New projects and new partnerships are part of the essence of what we do in Codelco ,” Pacheco told Bloomberg . “ We have tremendous opportunities that we can develop jointly .”
If copper supply is to meet ongoing demand then the copper mining industry will need to forge many such partnerships , as well as looking to bring new mines online wherever possible .
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