Collahuasi and Teck Resources agree to Chile mining partnership

Tue May 10, 2016 11:48am EDT
 
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SANTIAGO May 10 (Reuters) - Chilean copper mine Collahuasi, owned by Glencore Plc and Anglo American Plc, said on Tuesday it has agreed to a partnership with Canadian miner Teck Resources Ltd to share resources and infrastructure.

Collahuasi, located in northern Chile's copper belt, wants to boost production after years of technical issues and labor disputes. Teck operates the nearby, smaller Quebrada Blanca mine.

The agreement would "facilitate better operation and coordination between the companies," a spokeswoman for Collahuasi said, adding that a confidentiality agreement prohibited the company from discussing details.

Teck, meanwhile, said in a filing to the Chilean securities regulator that the agreement would aid its current operations and a potential expansion of its copper mine via the shared use of water, energy, roads and other resources.

Collahuasi produced 455,300 tonnes of copper in 2015, while Quebrada Blanca produced 39,100 tonnes.

(Reporting by Fabian Cambero; Writing by Gram Slattery; Editing by W Simon)