November 30, 2011 As of Nov30/11, the investment to develop the Caserones Cu-Mo project has been reviewed, taking stronger Chilean peso against the US dollar led by higher copper price, inflationary effects on construction materials, equipments and labor costs and engineering design development into consideration. As a result, estimates for the capital expenditure (production facilities and related costs) for the Project has increased to approximately US$ 3 billion from original estimates of US$ 2 billion. Despite the increase in the capital expenditure, the JV Company believes that the Project still has sufficient economics driven by the increase in copper price.
September 9, 2009 As of Sep/09, As a result of careful review of the interim report of the evaluation, it was made clear that the Project is economically worth advancing the development, though the Project still requires environmental approvals, etc. from the relevant authorities. PPC, on the premises that the Project will be shifted to full scale development, made a decision to appoint a financial advisor, in order to raise funds for the Project possibly under project finance scheme.
August 1, 2008 It was reported that Minera Lumina Copper Chile S.A. is to complete a prefeasibility study for the Caserones Copper Project by year end.