May 11, 2018 / 9:29 PM / 2 years ago

NuevaUnion gold and copper project to deliver EIA by end of 2018 -source

SANTIAGO, May 11 (Reuters) - The NuevaUnion gold and copper project in northern Chile plans to deliver its environmental impact statement by the end of 2018 after completing feasibility studies earlier this year, a source at the mine said on Friday.

The project joins two mines - one belonging to Goldcorp and the other to Teck Resources - into one. The company said preliminary investment could reach $3.5 billion.

“The plan is to present the EIA ... and that the project enter into operation by 2022-2023,” said the source who was not authorized to speak publicly about the matter.

NuevaUnion is expected to have a 36-year lifespan with an annual production of 224,000 tonnes of copper, 269,000 ounces of gold and 1,700 tonnes of molybdenum during its first 5 years of production.

Conservative President Sebastian Pinera, who took power in March, has promised to cut red tape and turbo-charge mining investments in the world’s top copper producer. (Reporting by Antonio De la Jara; Writing by Dave Sherwood; Editing by Richard Chang)

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