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Copper traders and manufacturers are considering funding a smelter in Chile.
Apr 18, 2025, at 8:20 am
On Wednesday, April 16, Chile's National Mining Company (Enami) is in negotiations with manufacturers and traders interested in financing a copper smelting project costing over $1.4 billion. Chile, currently the world's largest copper producer, is striving to curb the decline in domestic copper output. The company's CEO, Ivan Mlynarz, stated in a media interview that copper users and global traders have approached the company, potentially providing funds to rebuild the Paipote smelter, which was shut down early last year. Mlynarz noted that the project is economically feasible, considering it will use more efficient technology and produce by-products such as gold and sulphuric acid. For sustainable development reasons, Chile is seeking to promote the development of local copper smelting capacity. Mlynarz mentioned that the company has sought advisors for the project's financing process and will hold 100% of the project's shares. One option is that metal buyers would essentially prepay for the copper. He also stated that the environmental permits and independent audit results for the project are expected to be completed by mid-year. Additionally, Chile's state-owned mining company, Codelco, is developing a plan to utilize private capital to build a new smelter. Codelco closed a smelter in 2023 due to environmental concerns. For more updates on the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Conference and Copper Industry Expo, hosted by SMM, which will be grandly held in Nanchang, Jiangxi from April 22-25, 2025. Over 3,000 industry elites, representatives from upstream and downstream copper industry chain enterprises, government officials, industry associations, third-party equipment, logistics and warehousing, and academic experts will gather. The conference covers mining, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain. At the event, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry. The conference features a variety of activities: the main forum focuses on global copper market trends, raw material supply, policy impacts, and market directions. Sub-forums delve into specific areas such as electrical transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS, exploring industry hot topics. During the conference, there will also be a two-day field trip to 12 representative copper industry enterprises with a cumulative capacity of 1 million mt. Share cutting-edge technologies and valuable experiences to help upgrade the copper industry chain and promote high-quality industry development. The CCIE 2025 SMM (20th) Copper Conference and Copper Industry Expo will help you grasp the industry pulse, expand your network, and seek business opportunities! SMM cordially invites you to gather in Nanchang, Jiangxi from April 22-25, to unite in the new era and jointly plan for new developments!
