Codelco considers selling a 1050 MW project option

Codelco, Chile's state-run copper miner, is considering selling directly or via a tender an option for the development of a 1050 MW thermoelectric project it has designed, according to a report by Diario Financiero.

The project, which is located near Codelco's Ventanas smelter, was initially awarded to local electricity Colbun in 2009, but Colbun did not exercise the option and returned the project to Codelco.

The project, which is known locally as Energia Minera, is for a coal-fired plant, with its construction expected to cost about $1.7bn.

The plant will supply Codelco with electricity under a long-term contract, the report added.

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