«Copper Smelting and Refining in Chile: A Patriotic Duty» – Chuquicamata Union Praises Codelco’s New Plant Decision in Antofagasta

Original article: «Fundir y refinar el cobre en Chile es un deber patriótico»: Sindicato Chuquicamata valoró decisión de Codelco de construir nueva planta de fundición en Antofagasta

Following the signing of a Memorandum of Understanding between Codelco and Glencore Chile SPA to advance the development of a new copper smelting plant in the Antofagasta Region, the Chuquicamata Union praised the decision and emphasized that this initiative stems from the workers.

In a public statement, the union’s board expressed their «satisfaction, knowing that the authorities have listened to our proposal, which is to increase the capacity for smelting and refining, a proposition we have been advocating in all public, technical, social, academic, economic, and political forums for over three years, based on the conviction that smelting and refining concentrates in Chile is a patriotic duty».

«We believe this is a correct decision for the country,» said the workers, who added that they hope the agreement «will also include a refinery able to process the anodes generated at the smelting plant, as well as a treatment plant for anode slimes, to process the significant amount of precious metals and recover strategic minerals (by-products) that are invaluable for our country».

«Not including these plants means continuing to hand over our wealth to private entities,» they pointed out.

The Memorandum of Understanding (MoU) signed by Codelco and Glencore Chile SPA establishes the framework for preparing a prefeasibility study by the private company and negotiating definitive agreements.

According to a statement from Codelco, the Swiss multinational was selected as the preferred bidder after a «highly competitive process that confirmed industry interest, generated valuable market intelligence, and reinforced the strategic relevance of the initiative».

«The project entails the design, financing, construction, operation, and maintenance of the new plant, which is expected to process 1.5 million dry metric tons (DMT) annually, alongside robust operational and environmental standards,» the state-owned company detailed.

Additionally, as part of the agreement, Codelco committed to negotiating a contract for copper concentrate supply of up to 800,000 DMT annually, for a minimum period of ten years, with options to extend it for an additional ten years, subject to mutual negotiations.

The next step is the initiation of negotiations for definitive agreements while the multinational develops the prefeasibility study, which will need to be reported periodically on a schedule both parties will establish within the next 30 days.

«The first major milestone will be the delivery of that study by Glencore, which must occur by no later than May 31, 2026. Afterwards, Codelco will determine whether to accept or reject the proposal; if accepted, the parties will move towards signing the final agreements,» noted the state company’s statement.

Finally, the timeline projects that in 2027, engineering studies for feasibility and permits will be executed; in 2028, the project will enter the Environmental Impact Assessment System; construction will commence in 2030; and the new smelting facility is expected to begin operations between 2032 and 2033.

El Ciudadano