Lundin Mining wants to strengthen its position as a major player in Chile's copper mining industry after a $600 million project at the company's important Candelaria copper mine was approved, a company executive said on Friday.
"This project involves the construction of various facilities and initiatives that together give us a stronger position in copper production and represent continued investment, local jobs and the development of local suppliers," said Carina Brino, general manager of Candelaria Mining.
She added that the approval would mean extending the business for another decade. Earlier this month, Chile's Environmental Assessment Commission gave the green light to the project.
Candelaria produced 126,300 tons of copper in 2022. The company said the project will lead to 1,500 additional jobs, adding to its current workforce of about 7,000.
In April, Lundin agreed to pay $950 million for a 51 percent stake in Chile's Caserones mine, which is held by Japan's JX Nippon Mining & Metals, a unit of oil and metals giant Eneos Holdings.
