{"id":1091500,"date":"2018-12-23T17:00:41","date_gmt":"2018-12-23T17:00:41","guid":{"rendered":"http:\/\/www.mining.com\/?p=961027"},"modified":"2018-12-23T17:00:41","modified_gmt":"2018-12-23T17:00:41","slug":"strong-chilean-copper-project-pipeline-expected-to-come-online-report","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1091500","title":{"rendered":"Strong Chilean copper project pipeline expected to come online \u2014 report"},"content":{"rendered":"

In early December, Teck Resources announced it had sold<\/a> a 30% indirect interest stake in Compania Minera Teck Quebrada Blanca S.A., owner of QB2, to the Sumitomo Corporation and Sumitomo Metal Mining Co. for 1.2B.<\/p>\n

\u201cQB2 is one of the world\u2019s premier undeveloped copper assets and this transaction further confirms the value of the project,\u201d said Don Lindsay, President and CEO of Teck said at the time. \u201cThis partnership significantly de-risks Teck\u2019s investment in the project, enhances our project economics and preserves our ability to continue to return capital to shareholders and reduce bonds currently outstanding.\u201d<\/p>\n

\u201cQB2 will be a long life, low-cost operation with major expansion potential, including the option to double production or more, to become a top five global copper producer,\u201d Lindsay added.<\/p>\n

This week, Fitch Solutions increased its 2021 Chilean copper concentrate production growth forecasts to reflect the announcement of the production start date for the\u00a0QuebradaBlanca Phase II (QB2) project, in newly released industry trend analysis highlighting Teck\u2019s Chilean investment.<\/p>\n

\"\"<\/p>\n

\u201cOur production forecasts from 3.0% to 4.0% in 2021 as a strong project pipeline is expected to come online, along with QB2\u2019s first production for H221,\u201d the report reads. “Investor sentiment towards large scale copper projects remains resilient, especially amongst large industry players.”<\/p>\n

Teck\u2019s board has approved construction to begin in April 2019, and the the project is expected to produce 316 kt annually, a substantial increase from 23 kt in 2017.<\/p>\n

QB2 will join Spence Growth Option (SGO), owned by BHP; Los Pelambres Expans ion Phase I, owned by Antofagasta; and the Mantoverde Expansion, owned by Mantos Copper with a projected production start date in 2021.<\/p>\n

\u201cThe partnership highlights a resilient outlook among investors for expanding future copper production amidst enticing long term demand fundamentals,\u201d Fitch reports.<\/p>\n

The report does have a caveat: one key downside risk to Fitch’s otherwise positive outlook on Chilean copper production is the ongoing decline in the ore-grades in the country’s mining sector.<\/p>\n

Read the full report here.\u00a0\u00a0<\/a><\/p>\n

 <\/p>\n

The post Strong Chilean copper project pipeline expected to come online \u2014 report<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The report does have a caveat. <\/p>\n

The post Strong Chilean copper project pipeline expected to come online — report<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[808,700,809,404,369,810],"tags":[25,28,33,71],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091500"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1091500"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091500\/revisions"}],"predecessor-version":[{"id":1091582,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091500\/revisions\/1091582"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1091500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1091500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1091500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}