June 3, 2023

Green light to the expansion project of the Riotinto Mine operated by Watchtower. The Ministry of Industry, Energy and Mines has approved the definitive permit with which to carry out this millionaire project extension of Cerro Colorado, which implies a guarantee of continuity of 10 additional years to the activity.
riotinto has been producing above 50,000 tons of copper metal at its facilities, which have undergone significant technological modernization after an investment that accumulates more than 450 million euros. The activity of this mine currently generates more than 2,300 jobs (including its 475 direct and also indirect and induced), a gross added value (VAB) of 305 million of euros per year in the province and a tax contribution that exceeds 35 million euros, in addition to having 600 contractors, most of the environment. However, with this expansion, the mine take a giant step which will allow the extraction of 197 million tons of copper ore reserves in this exploitation, which will reach a rate of 15 million tons per year.

Unified Environmental Authorization for the mine

To allow this, the Board has approved a substantial amendment to the Unified Environmental Authorization (AAU) of the Riotinto Project, originally obtained in 2014. The company had requested it to include a new expansion of this mining project, including the expansions of Cerro Colorado (the historic mining short), the mine waste deposits (or tailings) and plant waste deposits (dams).

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