With the presence of the Minister of Mining, CMP inaugurates exploratory tunnel at El Romeral mine

The tunnel will enable a key project for iron mining in Chile, which for decades has operated exclusively as open-pit, and represents a decisive step toward a more efficient, competitive, and sustainable industry. This new stage seeks to ensure the operational continuity of El Romeral Mine, meeting the highest standards required by international markets.

With the presence of Minister of Mining Aurora Williams, together with regional and local authorities, Compañía Minera del Pacífico (CMP) celebrated the inauguration of the exploratory tunnel at El Romeral Mine this Tuesday. This marks the first step toward developing what could become the country’s first underground iron mine, advancing toward a more efficient, competitive, and sustainable model of mining.

Also in attendance were Acting Regional Governor César Gómez; Regional Ministerial Secretary (Seremi) of Mining, Constanza Espinosa; Seremi of Environment, Leonardo Gros; Seremi of Economy, Pía Castillo; and Mayor of La Serena, Daniela Norambuena. Workers and union leaders from CMP, as well as representatives from Corminco, Cidere, and other institutions, also participated.

This tunnel serves as the prelude to CMP’s Romeral Underground Project, currently under environmental review, which could extend the life of the deposit until 2034, ensuring operational continuity in the Coquimbo region, creating local jobs, and adding strategic value for both the company and the territory.

“We are celebrating the inauguration of the exploratory tunnel at the El Romeral deposit, which at depth shows very promising reserves for the future development of underground mining. To move forward, however, it is essential to understand the mineral types, the geotechnical characteristics of the rock, and what we will encounter when activating potential underground mining operations. That is why this tunnel is so relevant,” said Francisco Carvajal, CEO of CMP.

The 2-kilometer-long tunnel will allow the company to reduce geological uncertainty, enabling a more precise evaluation of available resources and better planning for future underground operations, which are projected to yield 14 million tons of ore with a 42% magnetic iron grade.

“Chile does not only have copper, lithium, iodine, or nitrate—we also have iron, which we are capable of producing responsibly. What we see here at El Romeral Mine is a significant effort, not only from a technical perspective but also in terms of the investment required to project this operation and to become the first underground iron mine in our country. This technical effort is backed by the talent behind this project,” highlighted Minister of Mining Aurora Williams.

Compañía Minera del Pacífico is currently developing large-scale growth projects, aligned with decarbonization and sustainability goals, which have required greater investment in the last four years than in the previous fifteen combined.

“This is not only about extracting ore, but about creating the future: doing so efficiently, with a lower environmental footprint, and with a real commitment to sustainable development. We are convinced that iron is a strategic mineral for the world, and at CMP we are ready to deliver high-grade, high-standard products, positioning our company as a global benchmark in iron mining,” added Carvajal.

CMP is Chile’s leading producer of high-grade iron. The company accounts for 98% of all iron exported from the country and operates nine sites across the Coquimbo and Atacama regions, where 98% of its workforce lives locally and 40% of its suppliers are local companies.