Tek Resources Quebrada Blanca Copper Project approved

SMM8 10-month: Teke Resources in northern Chile Tarapaca region of the Quebrada Blanca phase II project has been approved by the regulatory authorities. Mr Tek said yesterday that the Tarapaka regional environmental committee had voted to approve the environmental impact assessment of the project. The mine is expected to produce 300000 tons of copper a year in the first five years after production.

Tang Lindsey, president and chief executive officer of Teke, said at a news conference: "obtaining regulatory approval is an important step forward in advancing the QB2 project. QB2 will be a high-quality, low-cost, long-life mining project with great potential for expansion, will significantly increase Tek's copper production, and will produce considerable value in the long run.

Tek Resources owns 90 per cent of the project. ENAMI, the Chilean national institution, holds a 10 per cent stake in the QB project.

The project is expected to receive official documents from the government's Environmental eligibility Resolution in the coming weeks.

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