Chile’s CMP plans a US$67 million investment for converting the Romeral iron ore mine into an underground operation. The project includes a new method of mining, aims to enhance ore quality, and significantly increase reserves by 2027. Expectations for the project’s operational and production plans align with CAP’s goals to facilitate substantial growth in output by 2032.
Chile’s Minera del Pacífico (CMP), a subsidiary of CAP, is preparing to invest US$67 million to initiate underground mining at its Romeral iron ore site located in the Coquimbo region. The company has submitted an Environmental Impact Assessment (EIA) for the project named ‘Modification of the Romeral mining project phase V: underground exploitation and adjustments to existing facilities’, which aims to implement a sublevel stoping method for ore extraction.
The project is designed to extend mining operations through 2034, along with various upgrades in facilities and operations. CMP produces pellet feed, lumps, and fines at the La Serena municipality location, and transports the outputs via a 38 km rail line to the Guayacán port. In 2023, CMP reported shipments of 2.1 million tonnes of iron ore.
Construction for the underground mining project is targeted to commence within three months, with operational startup set for the first half of 2026. This initiative is part of a larger US$400 million investment plan aimed at transforming the Romeral site into a fully underground mine, increasing its reserves from 18 million tonnes to 173 million tonnes and enhancing the iron content quality from 66% to 68% by 2027.
The larger project encompasses enhancing the Romeral underground mine’s lifespan until 2050, aiming for a production increase from 2 million tonnes to 4 million tonnes per year by 2032. This expansion is a vital component of CAP’s strategic objective to boost production across their mining domains, including Cerro Norte and Los Colorados, requiring an estimated investment of US$2.2 billion. Currently, this comprehensive plan is in the prefeasibility and engineering phase, with construction expected to commence in 2030.
Minera del Pacífico is undertaking a significant investment to transform its Romeral iron ore mine to an underground facility. This is part of a comprehensive strategy to yield higher ore quality, boost production, and extend the operational life of the mine. By 2027, the Project anticipates major increases in reserves and quality, contributing significantly to CAP’s overall production goals by 2032.
Original Source: www.bnamericas.com
