🇨🇱 Freeport McMoRan has announced a major expansion project for the El Abra mine in Chile, with an estimated investment of US$7.5 billion. This ambitious project aims to extend the mine’s operational life by an additional 40 years while significantly increasing copper production. The investment ranks as the second largest mining investment in Chile, following Quebrada Blanca Phase 2.
Freeport McMoRan owns 51% of Minera El Abra, with the remaining 49% held by Chile’s state-owned company Codelco. The project highlights a collaborative relationship with Codelco and the Chilean government, including President Gabriel Boric, who emphasized the importance of sustainable economic growth and industry cooperation.
Key project details include an expected annual production of approximately 750 million pounds of copper and 9 million pounds of molybdenum. A new concentrator plant will be constructed to process copper sulfide mineralization, increasing capacity to about 240,000 tons of ore per day—nearly tripling current capacity. Without this expansion, operations at El Abra would cease by 2029.
Infrastructure developments include a seawater desalination plant located south of Tocopilla, which will supply 100% of the water needed for mineral processing. Water management systems are also planned, with evaluations underway for potential use of water rights from the Salar de Ascotán.
The Environmental Impact Study (EIA) is being prepared, with submission expected by late 2025 or early 2026. The permitting and construction phases are projected to take 7 to 8 years, with operations anticipated to begin around 2033.
Economically, the project is poised to be a significant driver for the Antofagasta region, contributing an estimated 9.3% to the regional GDP. Social investments and community engagement efforts are expected to increase, reinforcing Freeport McMoRan’s commitment to local stakeholders.
Mario Larenas, Freeport McMoRan Chile’s country manager, emphasized the company’s dedication to meeting social, environmental, and productivity standards to realize the project. CEO Kathleen Quirk highlighted the completion of prefeasibility studies and the positive evolution of relations with Codelco and the government, including upcoming dialogue with President Boric at the APEC 2024 forum.
Located approximately 76 km northwest of Calama in the Antofagasta Region, El Abra holds potential copper reserves estimated at around 20 billion pounds, underscoring its strategic importance for Chile’s mining sector.
This expansion positions Freeport McMoRan and Chile as enduring leaders in global copper production, offering substantial opportunities for market growth, investment, and operational advancements in the mining industry.
Source(s): https://www.reporteminero.cl/noticia/noticias/2024/07/freeport-mcmoran-anuncia-expansion-minera-el-abra-por-us-7500-millones, https://www.latercera.com/pulso/noticia/freeport-mcmoran-anuncia-megaproyecto-por-us-7500-millones-para-expandir-operacion-en-minera-el-abra/KRDNRNS3BJC7FKR5OYRZFWESOI/, https://energiminas.com/2025/09/02/freeport-mcmoran-tiene-un-plan-de-us7500-millones-para-extender-vida-util-de-mina-el-abra-por-40-anos/
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