BHP Billiton: Spencer Mine in Chile to achieve full production within 12 months

BHP (BHP), a global mining company, said on Monday that it expected to reach full capacity within 12 months after the expansion of its Spencer (Spence) copper mine, with production of 300000 tonnes a year by at least 2026.

BHP Billiton spent $2.46 billion on a new concentrator that can process 95000 tons of raw materials a day, extending the life of the plant in northern Chile by more than 50 years.

"We expect the new Spence concentrator to sell copper for the first time in the first quarter of 2021," the company said in a statement accompanying its financial results.

BHP Billiton said production of (Escondida), the world's largest copper mine, fell 5 per cent in the second half of 2020 because of lower ore grades and lower cathode production.

The company said layoffs were needed as a result of novel coronavirus's outbreak in Chile, which meant it gave priority to producing copper concentrates rather than cathode materials, reducing production of cathode materials by 30, 000 tonnes.