CHILE – Amerigo Resources of Vancouver and Codelco, Chile’s large state-owned copper producer, have signed an agreement extending Amerigo’s right to reprocess tailings from the El Teniente operation to 2037.
El Teniente is the world’s largest underground mine, and it has been in production for more than 100 years. Amerigo treats fresh and historic tailings from the operation to recover copper and molybdenum. The recent agreement allows for the treatment of the Cauquenes tails and requires an expansion of Amerigo’s facilities.
Over the next 23 years, Amerigo plans to produce a total of 1.7 billion lb of copper and 43 million lb of molybdenum.
Additional details and the English translation of the agreement are filed on SEDAR, Sedar.com.