Minera Tres Valles withdraws EIA for operational continuity of Papomono mine

Minera Tres Valles withdrew from the SEA review system the environmental impact statement for its US$102mn project to provide operational continuity to the production of copper cathodes from the Papomono mine in Chile's Coquimbo region and the purchase of external minerals through 2037.

The reasons for the withdrawal were not made public.

Last year, Tres Valles began bankruptcy proceedings amid a debt burden that reportedly reached US$50mn. In late 2022, it suspended mining operations and put its equipment under maintenance. 

But last month, the company, owned by Canada's Three Valley Copper, managed to close agreements with the investment funds Javelin and Kimura to finance its debt and continue purchasing copper from small miners in the area.

The continuity project would allow production from 2027 using the same facilities and without increasing the authorized processing capacity of 5,400t/d for 18,500t/y of copper cathodes.