Chile’s Codelco board approves $1.383bn overhaul of Salvador mine

The board of Chile’s state-owned copper miner, Codelco, has approved a budget of $1.383 billion for the overhaul of its Salvador mine. According to the company, construction for the Rajo Inca project that will convert Salvador from an underground mine to an open-cast one will start this year. This decision is a result of a Chilean environmental court approving a $56 million action plan agreed between Codelco and the government to remedy 36 years of Salvador overusing water from the northern Pedernales salt flat.

Source: Reuters