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Codelco selects Glencore as partner for new Chilean copper smelter
Chilean State-owned copper producer Codelco has selected Glencore to advance plans for a new smelter in the Antofagasta region, a move aimed at increasing downstream capacity and capturing more value within Chile’s copper supply chain. Glencore was chosen as the preferred partner following what Codelco described as a competitive process that confirmed strong industry interest and highlighted the strategic significance of expanding domestic smelting capacity. The memorandum of understanding provides a framework for Glencore to prepare a prefeasibility study (PFS) and for both parties to negotiate binding agreements. ... (full story)