Candelaria mine explained

Candelaria mine
Pushpin Map:Chile
Coordinates:-27.4646°N -70.2752°W
Place:Tierra Amarilla, Atacama
Subdivision Type:Region
State/Province:Atacama Region
Country:Chile
Owner:Lundin Mining (80%)
Sumitomo Group (20%)
Discovery Year:1987 (Phelps Dodge)
Products:Copper, gold, silver
as concentrate
Financial Year:2021
Amount:151,719 tonnes copper
91,000 ounces gold
Opening Year:1995

The Candelaria mine is a large open pit and underground copper-gold mine located in northern Chile in the Atacama Region. Candelaria has Proven and Probable Reserves of 676 million tonnes of ore grading 0.53% copper, 0.13 g/t gold, and 1.79 g/t silver; containing 3.58 million tonnes of copper, 3.0 million oz of gold and 39 million oz of silver.[1] The mine project incorporates a reverse osmosis plant at the port of Caldera, commissioned in 2013, with a capacity to produce 500 litres per second of desalinated industrial water, piping it 115 km from the Pacific Ocean to the minesite.[2] [3]

The project was operated since discovery in 1987 by Phelps Dodge Corporation, which was taken over by Freeport-McMoRan in 2007. Lundin Mining bought out Freeport's 80% stake in 2014.[4] [5]

Notes and References

  1. Web site: Prospectus . Lundin Mining Corporation . 3 August 2022 . Toronto, Ontario . 70 . 24 March 2022.
  2. Web site: Seawater Reverse Osmosis Services. 2014. Digiscend.com. 2014-08-19.
  3. Web site: Candelaria Mining Complex Site Visit . . 3 August 2022 . Toronto, Ontario . 5 . 12 September 2018.
  4. Web site: Prospectus . Lundin Mining Corporation . 3 August 2022 . Toronto, Ontario . 75 . 24 March 2022.
  5. Web site: Lundin buys stake in Chilean mine for $1.8B US - CBC . CBC . 2014-10-07 . 2022-07-22.