Australian-listed miner Hot Chili Limited has signed an agreement to ramp up the processing of copper ores from its Productora deposits at Chilean government-owned ENAMI’s Vallenar mill, according to media reports.
As per the agreement, the company’s annual ore production from its underground mining operations will increase by 50pc to 180,000mt and bring the Vallenar mill to its full operating capacity which is likely to reduce operating costs for ENAMI.
Hot Chili’s current mining rate is 120,000mt per annum. The company had signed a pact with ENAMI to process the company’s ores through the Vallenar mill earlier this year. It is paid $2/mt for the Productora ore as delivered to the mill and a further 10pc royalty payable upon sale of copper produced from the ores.
Hot Chili is a copper miner focusing on copper exploration and development in Chile’s Atacama Region.