BHP (BHP) is prepared to spend $13 billion to revamp its copper mines in Chile, but it is facing bureaucratic challenges, Bloomberg reported Tuesday, citing Alejandro Tapia, head of Escondida mine.
The company is ready to start the work this year if the permits are granted, the BHP executive said at a conference in Santiago, Chile, according to Bloomberg.
The company is also mulling restarting its Cerro Colorado copper mine by 2028 with $1.3 billion allocated for total costs at the location, and another $1.3 billion for its Spence mine.
BHP Group didn't immediately respond to a comment request from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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