September 21, 2014 12:43 PM ET

Metals and Mining

Company Overview of Minera El Tesoro

Company Overview

Minera El Tesoro is engaged in exploration, development and mining of copper metal. El Tesoro mine has a annual capacity of 90,000 tonnes of copper. The company is based in Las condes, Chile. Minera El Tesoro operates as a subsidiary of Antofagasta plc.

Avenida apoquindo 4001

Piso 18

Las condes,  7550006

Chile

Phone:

56 2 798 7000

Fax:

56 2 369 0894

Key Executives for Minera El Tesoro

Chief Executive Officer
Compensation as of Fiscal Year 2014.

Minera El Tesoro Key Developments

Chile's Sea Issues Favorable Recommendation for Minera El Tesoro Project

The environmental evaluation service of Chile's Antofagasta region (II) has issued a favorable recommendation for a project at Antofagasta Minerals' El Tesoro subsidiary. The project entails boosting the processing capacity of El Tesoro mine and modifying the SX plant, with the goal of maintaining fine copper production of 110,000t/y copper and involving investment of USD 86 million. Additional work includes construction of a heap leaching facility. The project, submitted in January, also includes exploration work to help sustain production in the future. The exploration program includes 180 drill holes in the Llano-Paleocanal area. SEA issued its favorable recommendation July 7, 2014 while a vote on the project was held July 24, 2014. Once final notification of the project has been received, El Tesoro expects to start work later 2014. The expansion of processing capacity and the leaching facility is scheduled to be completed in 2015, while the exploration work will go on through 2017. The project will give El Tesoro an additional 11 years of useful life.

Minera El Tesoro to Invest USD 86 Million to Maintain Production

Minera El Tesoro announced that it will invest USD 86 million (EUR 63.2 million) to develop its operations and maintain its copper production of 110,000 tonnes a year. The company's processing capacity will be increased by 2.5 million to 13 million tonnes of ore a year which will partly offset a decrease in ore grades. In addition, the company will adjust a plant to process solutions of Minera Encuentro and other mining projects and will explore an area known as Llano-Paleocanal, located next to Tesoro's Noreste pit.

Minera El Tesoro Builds First Pilot Plant in South America with Soitec Solar Technology

Minera El Tesoro has built the first pilot plant in South America with Soitec Solar technology, installing four of its highly efficient concentrator photovoltaic (CPV) systems at a site in Chile's Sierra Gorda district to provide renewable energy for a remote copper-mining operation. In addition to achieving the highest energy-generating efficiency, Soitec's CPV systems feature very robust glass-glass technology, particularly well suited for hot and arid environments. This design offers the lowest degradation and doesn't need any water for cooling, making it perfectly suited for this installation within the driest desert in the world.

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