Lates News

Chilean state-owned copper supplier Codelco has signed an agreement with Swiss commodities giant Glencore to design and potentially develop and operate a new smelter in northern Chile. Codelco stated in a statement on Wednesday that Glencore has been selected as the preferred bidder for a project in the Antofagasta region that is expected to produce 1.5 million tons of copper per year. According to a memorandum of understanding, Codelco will negotiate a contract with Glencore to supply up to 800,000 tons of copper concentrate to the new plant annually.