CommoditiesMedium•10 November 2026•
1 min read
Chile Approves $1.26 Billion Tovaku Copper Project Environmental Study
Key Facts
1Chile's Antofagasta Environmental Evaluation Commission approved the environmental impact study for the $1.26 billion Tovaku copper project.
2The project is a joint venture between Pucobre (60%) and Codelco (40%), expected to produce 46,000 tonnes of copper annually.
Chile's Antofagasta Environmental Evaluation Commission approved the environmental impact study for the $1.26 billion Tovaku copper project. Mining.com.au reported that the development is a joint venture between Pucobre, which holds a 60% stake, and state-owned Codelco with 40%.
The project is expected to produce 46,000 tonnes of high-purity copper cathodes annually over a 21-year mine life. This approval supports Codelco’s strategy to partner with private firms to reverse production declines, with the proposed open-pit operation including a 193-megawatt solar farm and battery storage system.