Miners set to invest in Chile

Mining giant Anglo American may invest $250million (about R1,8billion) to expand its Mantos Blancos copper mine in Chile.

Mining giant Anglo American may invest $250million (about R1,8billion) to expand its Mantos Blancos copper mine in Chile.

Local financial newspaper Estrategia reported last week that Anglo American may begin exploiting copper sulfide ore at the mine to maintain output levels.

Mine manager Alvaro Aliaga told the Santiago-based newspaper that current copper reserves would run out by 2014.

Mantos Blancos produced 45688 tons of copper in the first half of this year, 3percent more than last year.

In the meantime, Sky News said that BHP Billiton was about to increase its investment in Chile.

The media company said BHP Billiton may spend more than $1billion expanding its Escondida copper mine in the north.

Aside from the Escondida mine, most of the miners' projects in the area are still in pre-feasibility stage.- I-Net Bridge

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