Ministers Prokurica and Palacios highlight Codelco investment projects for US$20 billion
Chilean Ministers of Mining and Economy, along with the Executive President of state-owned mining company Codelco, Octavio Araneda, presented at the El Teniente Division in Rancagua, the first electric truck to operate inside a mine.
Mining and Economy Ministers, Baldo Prokurica and Lucas Palacios, respectively, along with the Executive President of the state-owned mining company Octavio Araneda, visited Codelco’s El Teniente Division in the O’Higgins Region to present the first electric truck to operate inside a mine in Chile and learn about the process of resuming expansion projects.
At the event, the ministers emphasized that Codelco’s project portfolio, which is scheduled to peak in 2021 and 2022, will require an investment of US$20 billion.
Six Codelco projects aim to extend the useful life of its operations: Chuquicamata Underground Mine, Andina Mine-Plant Transfer System, El Teniente New Mine Level, Inca Open Pit, Andina Future Expansion and RT Sulfides II.
Mining Minister Baldo Prokurica said, “We are currently very close to beginning the Andesita and Diamante projects, two Codelco structural projects involving investments in excess of US$1 billion. These projects will enable the company, which is very important to Chile, to continue working. In combination with other structural projects totaling more than US$20 billion, they will maintain production levels and help Codelco remain the country’s largest copper producer.”
Similarly, Economy Minister Lucas Palacios said, “Mining has been one of the motors sustaining our economy in these difficult months. The industry has not stopped and has even increased its production. The sector has managed to push our economy forward while strictly complying with established protocols. When things are done right, and with commitment from the companies and their workers, we can get through this.”
The minister added that the Economy Ministry “has recorded 228 projects of more than US$100 million each, totaling US$69 billion. Since Chile is a mining country, 40% of these investments are in mining, an industry of which we are proud. Many of these are structural projects, and there are still more coming. Just last month, the ministry added projects in different sectors totaling US$1.7 billion to its list.”
Electric truck
During their visit to El Teniente, the ministers, along with the Executive President of Codelco and company representatives from Engie and Scharf, presented the first electric mining truck, which will operate inside the mine.
Adapted with a 100% electric powertrain, the mining vehicle began its industrial trial phase this week. It is expected to demonstrate its ability to operate, in terms of power, resistance and energy consumption, in underground mine and high mountain industrial road conditions.
It is the first versatile electric truck to cover long stretches, both outside and inside the El Teniente underground mine.
Minister Prokurica stated that “Codelco and many companies have taken significant steps toward greener mining. Using electromobility will reduce CO2 emissions and impact noise pollution. Electromobility is purely Chilean. Our country has cobalt as well as the world’s largest copper and lithium reserves.”
Codelco’s Executive President, Octavio Araneda, stated, “In the future, 2030 at the latest, most of the production equipment will be electric. We already have a pilot program running the first hybrid production truck in El Teniente. The pilot program is the world’s first industrial application of that type of vehicle. Next year, we will have a fully electric truck with a battery that will start testing here in April.”
Araneda added that “ we have a very important path to follow in terms of carbon neutrality and reducing our emissions levels. So, this also contributes and moves in that direction.”