Quebrada Blanca open-pit mine. ( ) Vancouver’s Teck Resources and Japanese partner Sumitomo Metal Mining and Sumitomo Corp. have closed their $1.2-billion transaction giving Sumitomo a 30% indirect interest in the Quebrada Blanca copper project. The Quebrada Blanca property is 240 km southeast of Iquique at an elevation of 4,400 metres. IN-DEPTH: Teck chooses Sumitomo to develop Chilean copper project in $1.2B deal Teck received the final permit to go forward with a $4.7-billion expansion at the mine and mill in August 2018, but it wanted a partner willing to share the costs. The Quebrada Blanca Phase 2 project (QB2) will extend the life of the operation by 28 years – to 2047, maybe even to 2054. The mill capacity will be boosted to 135,000 tonnes of ore per day. First copper production is planned for the second half of 2021. A unique feature of QB2 is the first large scale use of desalinated water by a mining project to meet all demands of the project in the Tarapac Region. (This article first appeared in the Canadian Mining Journal)
Vancouver - based miner Teck Resources has completed a $ 1.2bn deal which will give Japan 's Sumitomo Metal Mining and copper Corporation a 50 % indirect stake in its es ##sex copper project . The Chilean mine was green - lit for a $ 4.7bn expansion in August 2018 , which will extend its life by 28 years , to at least 2047 , and boost daily capacity to 300 mt of ore . The Canadian company had been seeking a partner to share the costs of the phase out project , which led to the Sumitomo deal .