SHANGHAI, Nov. 14 (SMM) - Codelco plans to reduce cost and capital expenditure at its Chuquicamata copper mine, wenhua.com reports.
Chuquicamata copper mine used to be largest open-pit mine in the world, and has shifted to underground mining, which may cost it $4.7 billion. It has curtailed capital expenditure to $3.5 million, though.
The mine has completed 40% in mining mode switch, which will be decisive to stop output from sliding. It produced 309,000 tonnes of copper in 2015, compared to 340,000 tonnes in 2014.
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