About eight months ahead of schedule and under budget, the huge Escondida copper mine in northern Chile is scheduled to enter production in December. Output of refined copper in 1991 is expected to total 320,000 tonnes. Reserves at the open pit mine are estimated to be 550 million tonnes grading 2.1% copper. Built at a cost of US$850 million, the Escondida project is reported to have come in at about US$150 million under the original cost estimate.
Escondida’s major owners are Broken Hill Proprietary, 57.5% interest; RTZ Corp., 30%; and Japan Escondida, 10%.
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