Last Updated :
25 July 2011 at 19:10 IST
Mammoth $1 trillion mineral resource in Escondida mine
SANTIAGO (Commodity Online): BHP Billiton announced a 129% increase in the mineral resource in and around the Escondida mine, the world’s largest copper mine.
The 19.5 billion tons of ore resources are estimated to yield 107 million tons of copper which at current copper prices would be over $1 trillion, mining sources said.
At a Barcelona conference in May, chief executive Marius Kloppers said Escondida was one of five areas around the globe where BHP could expect more than 100 years of production, based on "potential mineralisation".
Escondida produced about 680,000 tons of copper in 2010-11.
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