Mine Collapse Weighs on Codelco Debt Even as Output Resumes
A truck at the entrance of the El Teniente mine near Rancagua, O'Higgins Region, Chile, on Aug. 1.
Photographer: Raul Bravo/AFP/Getty ImagesCodelco’s El Teniente copper mine partially resumed production over the weekend, but the fatal accident that closed it for a week is likely to weigh on the Chilean company’s bonds for far longer.
The July 31 tunnel collapse that killed six workers hit a new section of the mine, snarling plans to revive production at the 120-year-old operation. And while older parts of El Teniente are now operating again, the newer sections may be out of action for an extended period.