Teck Resources received regulatory approval for its Quebrada Blanca Phase 2 project in the Tarapac?? Region in northern Chile.
Yesterday, Teck said that the regional Environmental Committee of Tarapac?? voted to approve the project's Environmental Impact Assessment.
The mine is expected to generate 300,000 tonnes of copper equivalent production per year for the first five years of mine life.
Teck estimates there will be 9,000 - 11,000 jobs during peak construction and more than 2,000 ongoing direct and indirect jobs during operation.
The mine will deploy the first large-scale use of desalinated seawater for mining in Chile's Tarapac?? Region, in place of freshwater use.
"Receiving this regulatory approval is a major step forward in advancing our QB2 project," said Don Lindsay, President and CEO, Teck in a news release.
"QB2 will be a high quality, low-cost, long-life operation with significant expansion potential that will substantially increase Teck's copper production and generate considerable value for many years."
Teck owns 90% of Compa???-a Minera Teck Quebrada Blanca S.A. ("QBSA"). ENAMI, a Chilean State agency, holds a 10% preference share interest in QBSA, which does not require ENAMI to fund capital spending.
Receipt of the Environmental Qualification Resolution (RCA) is expected in the coming weeks.
Creative Commons image of green lights courtesy of Tawheed Manzoor. Written with material from Teck news release