Chile Grants Key Environmental Permit for $870M Codelco-Pucobre Copper Project

Mining News  |  2026-11-10 04:47:04   |   By

The development will be undertaken by Minera Puntilla, a joint venture in which Pucobre holds a 60% interest and Codelco owns the remaining 40%.

Summary

  • $870 Million Tovaku Copper Project Secures Environmental Approval

    - Chile has granted environmental approval for the proposed Tovaku copper mine in the Antofagasta region. The clearance allows joint venture partners Codelco and Pucobre to advance regulatory and development preparations, with construction targeted for the second half of 2027.

  • Mine to Produce 46,000 Tonnes of Copper Annually

    - The open-pit mining project is designed to produce approximately 46,000 tonnes of copper cathodes annually over an estimated 21-year operating life. Construction is expected to take three years, with the workforce potentially reaching nearly 1,000 employees at peak activity.

  • Project Incorporates Solar Power and Seawater Infrastructure

    - The development plan includes a 193-MW solar installation featuring 336,600 photovoltaic panels, reverse-osmosis facilities and a 72.5-kilometre seawater pipeline. Copper recovery will use crushing, leaching, solvent extraction and electrowinning (SX/EW) technology.

SEATTLE (Scrap Monster):  Chile's copper mining sector has received a fresh investment boost following environmental approval for the proposed $870 million Tovaku copper mine. The clearance is expected to accelerate preparations for construction, targeted for the second half of 2027. The mine is jointly developed by state-owned Codelco and private miner Pucobre.

Located in the Antofagasta region of northern Chile, the open-pit project is designed to produce approximately 46,000 tonnes of copper cathodes annually over an estimated 21-year operating life. Construction is expected to last three years, with the workforce reaching nearly 1,000 at its peak.

The development will be undertaken by Minera Puntilla, a joint venture in which Pucobre holds a 60% interest and Codelco owns the remaining 40%. The companies have collaborated on exploration and technical studies at the property since 2009.

The mining operation will employ conventional extraction techniques, with copper recovery using crushing, leaching, solvent extraction and electrowinning (SX/EW) processes. The proposed plan includes installation of a 193-MW solar installation equipped with 336,600 photovoltaic panels, reverse-osmosis facilities, and a 72.5-kilometre seawater pipeline.

The key environmental clearance will allow the partners to proceed with remaining regulatory and development activities ahead of the construction phase.

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