The new company, Alliance Copper, will develop and exploit biologically based technologies for the processing of copper and molybdenum ores and concentrates, Billiton said.
Alliance Copper aims to invest US$200 million dollars over the next six years, to be contributed in equal parts by Billiton and Codelco.
The two companies have been jointly developing technology since 1997, with Billiton providing the biotechnology expertise and Codelco the solvent extraction/electrowinning expertise.
Development work has included the operation of pilot plants at both Billiton's process research facilities in South Africa and Codelco's Chuquicamata division in Chile, Billiton said.
The first project for Alliance Copper will be the construction of a prototype bioleach facility in the Chuquicamata district, with an output of about 20,000 tonnes per annum, the company said. This plant, which has an estimated total capital costs of US$40 million, will assess the commercial application of the technology.
