Enami’s Copper Sale for Financial Recovery
Chilean state-owned mining company Enami plans to sell 450,000 metric tonnes of processed copper, valued at approximately $60 million, to regain financial stability. This stockpile, sourced from the Barriles de Tocopilla plant, is already collected and crushed, making it more appealing to buyers.
Reasons Behind the Sale
The decision to liquidate this significant copper stock comes after Enami reported a loss of $200 million in 2023. By selling this copper, the company aims to improve its financial standing and continue supporting small-scale mining, a crucial part of its operations.
Enami’s Focus on Financial Sustainability
Executive vice-president Javiera Estrada emphasized the goal of achieving financial sustainability to maintain Enami’s role in the small-scale mining sector. The sale is expected to attract considerable interest, given the current demand for copper in global markets. This move represents a key step for Enami as it seeks to stabilize its finances and strengthen its position in the mining industry.
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