Press Release Investor Information
STRABAG subsidiary Züblin to expand world's largest copper mine in Chile
Facts & Figures
STRABAG COMPANY:
Züblin International GmbH Chile SpA
CONTRACT VALUE:
€ 100 million
STRABAG SHARE: 100 %
ORDER BACKLOG: Q1/16
SEGMENT:
International + Special Divisions
CLIENT:
Corporación Nacional del Cobre de Chile (Codelco)
Contact
STRABAG SE
Diana Neumüller-Klein
Head of Corporate Communications
& Investor Relations Tel. +43 1 22422-1116
diana.klein@strabag.com
- Follow-up order for the expansion of El Teniente Mine in Chile
- Contract value € 100 million
- Contract makes Züblin one of the biggest construction companies in underground mining in Chile
Santiago de Chile, 15 January 2016 Züblin International, a subsidiary of publicly listed construction company STRABAG, has been awarded a follow-up contract by Codelco, the world's largest copper producer, to expand El Teniente Mine in Rancagua, 80 km south of the capital Santiago de Chile. Züblin has already been carrying out extensive tunnelling works at the mine since March 2014. The new € 100 million contract will make Züblin one of the leading construction companies in underground mining in Chile.
The expansion will be carried out using the drill and blast method. Once completed, the mine will have a size of 10,320 m horizontally and 849 m vertically. The works are scheduled for completion by the end of 2016. "The main challenge in this copper mine, the largest in the world, are the seismic conditions and geologic forces", explains Thomas Birtel, CEO of STRABAG SE.
The expansion will raise the lifespan of the mine, which has been in operation since 1904, by another 50 years. Codelco produces more than 400,000 m³ of copper at the mine every year.
Image:
Underground mining works at El Teniente Mine in Chile Image credits: Züblin International GmbH Chile SpA