Chile's Codelco considering closure of coastal copper smelter

SANTIAGO, Oct 15 (Reuters): Chile's Codelco, the world's largest copper producer, said on Monday that it is evaluating the closure of its Ventanas copper smelter in a polluted coastal region.

Media have reported that President Sebastian Pinera would announce the closure of the facility during the upcoming COP25 climate change conference, which will take place in capital Santiago in December.

Pinera has said he plans to use COP25 as a platform to urge countries to adopt more ambitious commitments to cut carbon emissions and other greenhouse gases that contribute to global warming.

The Ventanas smelter has been the target of criticism from social and environmental groups that accuse it of contributing to heavy pollution in the Quintero area on the central coast of the country.

"The old and low-scale Ventanas facilities are not very competitive and do not offer better prospects in the medium term, so the losses in recent years [of $50 million annually] are projected to continue," the company said in its statement, adding that the facility's refinery would continue to operate.