Hudbay Considers Mantos Copper
By Oscar Martínez Bruna, Latin America Editor
Mantos Copper, backed by Audley Capital Advisors and Orion Mine Finance, has been looking for a buyer for all or part of its business to raise US$1 billion to mine for copper and gold at two of its mines in the country, north of Chile. The company, based in the coastal city of Antofagasta, is working with the Bank of Nova Scotia to evaluate the full range of strategic alternatives, according to a statement in May.
Mantos has said its Mantoverde mine will require an investment of US$780 million and will produce an average of 106,000 metric tons of copper and 33,000 ounces of gold per year. The expansion of Mantos Blancos will extend the life of the mine until 2035 and will require a capital injection of US$210 million, the company said.