Green light for the Cobre Las Cruces mining project, which involves more than €500 million in investment and will create more than 1,000 jobs.
The Ministry of Economic Transformation, Industry, Knowledge and Universities has granted mining authorisation to develop the new Cobre Las Cruces underground mining project and polymetallurgical plant for the production of copper, zinc, lead and silver.
Counsellor Rogelio Velasco said, “It is a strategic initiative of great significance for the development of Andalucian industry, innovation, job creation and revitalisation of the municipalities where it is located.”
The mining and metallurgical project, called PMR, Polymetallurgical Refinery, will be active for at least 14 years and will involve a direct investment of more than €500 million and an additional €177 million for the construction of renewable energy facilities. The project is estimated to generate about €450 million in public revenue over the course of its lifetimes.
It is also expected to create thousands of jobs including 1,200 jobs during the construction phase, 900 jobs when it starts production as well as about 1,500 indirect positions.
Along with the authorisation granted by Transformación Economica, which also includes approval of the environmental restoration plan associated with the future activity, Cobre Las Cruces has also obtained the corresponding environmental permits from the Junta de Andalucia.
Velasco said, “Cobre Las Cruces is a benchmark company in Andalucia and the initiative, which is of great significance due to the investment and job creation that it entails, will contribute to strengthening the metal mining sector.
“This endorsement by the Autonomous Administration guarantees that any future activity to be developed will be highly sustainable and will follow all the strict security parameters,” he added.
Cobre Las Cruces is a subsidiary of the multinational First Quantum.
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