October 07, 2008

Chilean Santa Fe plans new 2.5 million tonne per year mine

According to documents presented to Chile’s regional environment authorities, Chile's Minera Santa Fe plans to develop an open pit mine at its Bellavista property.

Based on preliminary reports and exploration drilling, Santa Fe said that the deposit had sufficient reserves to support production of 2.5 million tonne per year for at least 25 years, adding that it hoped to begin operations in March next year.

But Santa Fe said the Bellavista mine would not increase the company's overall shipments but allow more flexible operation of its existing Cerro Iman and Japonesa mines. The document also said that "The combined volume of concentrate sent to port from Cerro Iman, Japonesa and Bellavista will not exceed 2.5 million tonne per year.”

Santa Fe said that ore from Bellavista, located near the city of Copiapo, would be exported from the port of Caldera.

Santa Fe is owned by Chilean businessman Mr Leonardo Farkas.