The expansion of the Antamina Mining Company
In early January Antamina announced an investment of 1,288 million dollars to expand its mining facilities and processing capacity in mineral mining site located in the San Marcos district, province of Huari (Ancash).
“It has been estimated that this increased investment will drive growth of the company’s production by 38 percent, and they have also generate higher transfers for income taxes totaling $ 1.900 each additional” she said.
He said that the taxes paid by Compania Minera Antamina bordering the Treasury $ 500 million a year.
The company noted that in 2008 it announced a 77 percent increase in its reserves of mineral deposits in the reservoir.
The new mineral reserves were incorporated into a feasibility study completed in 2009, the same as possible to evaluate the options for expanding the company announced today.
The expansion of reserves include increases in mineral processing capacity, the same will rise 38 percent to 130 thousand metric tons (MT) daily, increase reserves by 77 percent processed to 1.100 million tons and extend the life span of the mine until 2029.
He indicated that this project will create many jobs directly and indirectly at the national and only in the construction phase (2010 – 2011) will generate 1.450 direct jobs.
The expansion will also generate approximately 1,700 additional jobs on average (direct contractors) with respect to the scenario without enlargement (period 2009 – 2029), and also guarantee employment for six years (2024-2029).
Also, the current operations of Antamina have brought positive impacts in the areas of influence, through fee and royalties to municipalities and the regional government of Ancash 3.317 million soles in the period 2001 to 2009.
Mining operations have also generated $ 164 million for the Antamina Mining Fund (WWF) between 2007 and 2009.