Partners OK $1,3bn Antamina expansion capex

TORONTO (miningweekly.com) – The owners of the Antamina copper/zinc mine, in Peru, have approved a $1,29-billion project to expand mining and processing capacity at the operation.

BHP Billiton and smaller rival Xstrata both own 33,75% of the asset, Canada's Teck Resources holds 22,5%  and Mitsubishi Corporation owns 10%.
The Antamina expansion project will increase the site’s ore processing capacity by 38%, to 130 000 t/d and annual production of copper and zinc by approximately 30%, Teck said.
In combination with increased mineral reserves, which were increased by around 75% in 2008, the project will boost the mine's operating life by six years, until 2029.
The expansion project cost will be funded out of cash flow and borrowings by Compania Minera Antamina, which owns the mine, and the first production from the expansion is forecast in late 2011.

Located in the Andes mountain range, 270 km north of Lima, Antamina is one of the world's largest copper/zinc mines.