close to a built mine ? They don't even have Feasibility.
Full production 2016...if they get water permits....and that was only based on the original schedule
In CUU 's case we force Teck into full production after they back in..
http://www.bnamericas.com/news/mining/anglo-american-pushes-back-quellaveco-approval-to-2012
Anglo American pushes back Quellaveco approval to 2012 - Chile, Peru
Published: Friday, July 29, 2011 17:23 (GMT -0400)More news from Peru
By Victor Henriquez / Business News Americas
London-based
Anglo American (LSE: AAL) has delayed board approval for its
Quellaveco copper project in southern Peru's Moquegua region as it
is still waiting for water permits to be granted, copper business unit CEO John MacKenzie said in a conference call to discuss H1 results.
"The project's approval from the board has been delayed compared to the previous guidance and we are now targeting approval during 2012," MacKenzie said.
Anglo American originally planned to submit its 81.9%-owned Quellaveco to the board by end-2010. This was changed to 2011 at the end of last year.
"We continue to work on the project, consulting and working with all levels of the government in order to achieve the water permits that we require," he said.
Meanwhile, dialogue with the local community is making progress, even though it is still going to take more time to successfully conclude the process, he added.
The project has faced several delays as a result of opposition from residents in Moquegua concerned about water use.
Capital costs at Quellaveco are estimated at US$2.5bn-3bn, and the project will produce 225,000t/y of copper in concentrates once it ramps up to full production in 2016, with initial startup in 2014, according to the company's original schedule.
