Chile: the balanced view : a recopilation of articles about the Allende years and after

Exports Price Total income Year Production (millions 01 lbs.) (cen!. lb. nel(2)) (millions 01 US$) 1973 615,900 1,284.5 66.1.1 861 (1) 1974 740,000 1,558 67.0 1.044 1975 800,000 1,680 67.5. 1.140 1976 820,000 .1.720 68.0 1.180 1977 900,000 1,880 '69.0 1.290 1978(3) 925,000 1,940 69.5 1.325 Notes to chart: (1 )The real price in 1973 was 80.8c per lb. 01 electrolytic copper. and the effective net price was 71.9c per lb., so that the actual income 01 the large-scale mining sector tor that year was $923.5 million. (2)Net prices are improving trom year to year as the proportion 01 electrolytic. blister, and lire-relined copper increases and ¡he percentage 01 concentrates and cold loads decreases. (3)Afterexpanding.thé Andean sectorby 25,000 tons. a large new mine with at least200.000 additional tons should be opened by 1980. As can be seen in the chart and notes, by 1978 the large-scale mining sector should furnish roughly $ 400 million more gross income than was provided by export earnings from this sector in 1973. By 1:980, a new mine, such as El Abra, should be in production. It has a surveyed volume of 500 mili Ion cu m of ore of a very satisfactory grade, and it might initially produce at leas! 300,000 tons per year. El Abra offers optimal conditions for exploitation of copper, and this would mean a gross income of another $ 450 million. However, plans for the exploitation of El Abra have not ye! been formulated, although an active exploratory program is being conducted. 2) Medium-sized and small copper-mining sectors This group also has definite expansion plans that may be defined as follows, a! least in regard to the public sector (ENAMI -National Mining Corporation): Amount 01 ínvestment Year 01 Activity (mil/lons 01 dollars) completion 1.. Refinery in Ventanas i. Sulfuric acid plant 21 1976/77 .ii. Refinery expansion 10.5 1976 iii. Expansion of smelter 33.5 1976 2. Paipote Expansion of acid plant 8.2 1976 3. Andacollo Mine, plant, and water 1'50.0 1978 4, Juan Godoy Leaching plan! 6.0 1975 5. Various miningdevelopments and mining and transportation equipment 69 1974 76 298.2' •Approximately 30 percent in local currency. 231