Comibol exports first shipment of copper cathodes from Corocoro

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Tuesday, October 5, 2010

Bolivian state miner Comibol sent the first shipment of copper cathodes from the Corocoro project in La Paz department on Tuesday to Peruvian firm Cormin, Bolivian press reported.

Cormin won a bidding process in July to purchase nearly 301t of the grade A copper cathodes from Corocoro. The transaction is worth about US$1.6mn, paper La Prensa reported.

Production at the Corocoro hydrometallurgical plant resumed last October, after being closed for 20 years. The Bolivian government invested US$18.5mn in the first stage of the project which involves the production of copper cathodes from strippings and tailings left over from old copper mining operations.

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A second phase involves a JV contract between South Korean state company Korea Resources (Kores) and Comibol.