Codelco and Pucobre Seal US$870 Million Tovaku Copper Alliance

Chile's state copper giant Codelco and mid-tier miner Pucobre have formed Minera Puntilla to develop the US$870 million Tovaku project in the Antofagasta Region. The open-pit operation targets average output of 46,000 tonnes of copper cathodes a year starting in 2030. It is the first public-private venture sealed under chairman Bernardo Fontaine.