Billions will be spent in aggressive exploitation plans...
The Chilean Copper Commission (Cochilco) has stated that between 2004 and 2007, projects related to copper mining will total US $ 5.44 billion, of which US $ 2.68 billion will be spent by the State-owned company Codelco, while the remaining US $ 2.78 billion will correspond to private investment.
In addition, projects lined up for after 2007 will require an additional US $ 320 million to bring the total figure up to US $ 5.76 billion.
Codelco has reported that it has an authorized investment of US $ 463 million for the period of reference, of which US $ 140 million will be directed to Codelco Norte; US $ 23 million to El Salvador:US $ 4 million to Andina:US $ 241 million to El Teniente; and US $ 55 million to its headquarters.
The investment breakdown is in line with the company's plan to modify its mining operations by expanding its underground production.