Antofagasta Approves Development of Centinela Second Concentrator Project
Antofagasta Commences Centinela Expansion
Antofagasta has announced the approval of the construction of the Centinela Second Concentrator Project. The project, integral to the company's growth strategy, is set to begin critical path works immediately, with full-scale construction slated for Q1 2024 after finalizing project finance documents.
Project's Key Benefits
The project is expected to significantly enhance Centinela's production capacity, adding 170,000 copper equivalent tonnes per year. This aligns with Antofagasta's objective of reaching 900,000 tonnes of profitable copper production. The expansion also aims to lower net cash costs and optimize the Centinela District's two billion tonne ore reserve.
Environmental Commitment and Community Engagement
The Second Concentrator Project is designed to minimize environmental impact by utilizing 100% renewable electricity and raw seawater. The project underscores Antofagasta's commitment to sustainable mining practices.
Investment and Infrastructure Development
The project will see a capital investment of $4.4 billion, encompassing a new 95ktpd concentrator plant with advanced technologies like high-pressure grinding rolls (HPGRs). It also includes expansions in seawater pumping, tailings storage, energy supply, and logistics networks. The updated capital cost estimate reflects inflation, currency strengths, regulatory changes, and additional contingencies.
