State mining company Coldelco’s nearly $3 billion Ministro Hales copper-silver mine is expected to add 300,000 kg of silver to the existing silver output from the rest of Codelco’s operations in Chile, making it a major world silver producer. The company, the world’s No. 1 copper producer and owner of over 11% of the world’s copper reserves, expects to start operations at mine early next year, reaching full production during the first half. According to Codelco, the mine will add 180,000 t to global copper supply next year, helping to counteract declining ore grades in the company’s other mines.

CEO Thomas Keller says Codelco expects its 2013 output to come in slightly ahead of last year, when it produced some 1.65 Mt, not including the El Abra and Anglo American Sur operations.

Finning International’s South American operation has been awarded a contract valued at $190 million with Codelco. Under this contract, Finning will supply 10 Caterpillar 797F trucks to Ministro Hales mine in Calama. Finning will begin delivering this equipment in 2013. In addition, Finning has been awarded a ten-year maintenance services contract for the trucks. The equipment will complement Ministro Hales’ existing Caterpillar fleet.

“We are extremely pleased to build on our relationship with Codelco to further support the Ministro Hales project,” said Marcello Marchese , President of Finning South America. “The mining sector continues to represent a great long-term opportunity for Finning.”

Finning International is the world’s largest Caterpillar equipment dealer.