Chile's Tres Valles Copper Mine Plans to Restart Underground Mining by Year-End

en.Wedoany.com Reported - On October 16, U.S. mining company Global Critical Resources (GCR) plans to restart the Papomono underground mine, part of Chile's Tres Valles copper mine complex, by the end of 2026, with the mine expected to contribute approximately 30,800 tonnes of copper production annually in the future. The project is located in Chile's Coquimbo Region and operated by GCR subsidiary Minera Tres Valles. The company also plans to resume mining at the Don Gabriel open-pit mine around 2030.

Tres Valles' existing ore processing and cathode copper production facilities continue to operate, processing not only its own ore but also ore purchased from more than 90 surrounding small and medium-sized mining enterprises. According to materials GCR submitted to Chilean authorities, as of April 2026, the mine's annualized cathode copper output was approximately 14,100 tonnes, and the existing production facilities have an annual capacity of approximately 18,500 tonnes. The company plans to integrate self-produced ore from the restarted Papomono underground mine together with externally purchased ore into the existing processing system.

Papomono uses inclined sublevel caving mining technology, with supporting processing facilities including ore crushing, leaching, solvent extraction and electrowinning systems to produce electrolytic cathode copper. GCR took over the Tres Valles assets in 2025 and restarted related operational arrangements in January 2026. The mine obtained environmental approval for its operational continuity project in January 2026, permitting mine operations to continue until 2037, with a separate three-year period arranged for implementing the final mine closure plan.

The restart plan still faces environmental compliance and commercial disputes. Chile's environmental regulator filed 8 charges against the mine in 2026, mainly concerning environmental monitoring reporting obligations, with related penalties not yet finalized. Some ore suppliers have also protested over overdue payments, and GCR's acquisition of Tres Valles is also subject to unresolved legal proceedings.

In its submitted operating forecasts, GCR expects Tres Valles' future peak annual revenue to approach US$238 million, with EBITDA reaching a maximum of approximately US$157 million, and average annual EBITDA of approximately US$80 million from 2026 to 2031. The above figures are company forecasts and not achieved operating results.