The one-third interest of Shell in the developing Collahuasi copper project in Chile will be offered for sale to the highest bidder among 12 selected mining companies.
A Shell spokesman did not disclose the name of the companies. The bidding process is expected to be completed towards the end of summer. Shell’s two partners in the project, Falconbridge and Mantos Minorco, have preemptive rights to increase their one-third interests.
Collahuasi, with reserves of some 1.75 billion tonnes of low-grade copper mineralization, could be in production by 1998. A feasibility study is scheduled for completion by mid-1995.
Be the first to comment on "NEWS ROUNDUP — Shell selling Collahuasi stake"