COMMODITY / ENERGY BRIEFS

COMMODITY / ENERGY BRIEFS

CODELCO APPROVES PLAN

FOR COPPER-OXIDE MINE

SANTIAGO, Chile - Codelco-Chile's board unanimously approved the state- owned company's mine-development plan for the Radomiro Tomic copper-oxide deposit in northern Chile.

The mine will produce 165,000 tons a year of fine copper and will cost $641 million to develop over 29 months. It will be expandable up to 248,000 tons a year once in operation.

Codelco-Chile will finance the project on its own.

Radomiro Tomic will increase Codelco-Chile's production, reduce its costs and make it more profitable, ensuring stable income for the state, the company says.

The board also approved the development of the mine as Codelco- Chile's fifth division, ending speculation that it would fall under the umbrella of the company's largest division, Chuquicamata.

DIAMOND SHAMROCK,

FINA PLAN EXPANSION

HOUSTON - Diamond Shamrock and Fina Oil and Chemical will double production of polymer grade propylene at Diamond Shamrock's Mont Belvieu, Texas, facility with construction of a second propylene splitter.

The expansion will be completed in the fall of 1996 in a joint venture in which Diamond Shamrock owns a two-thirds stake and Fina one-third.

The new splitter - which receives refinery grade propylene by pipeline, rail or truck and upgrades it to commercial propane and polymer grade propylene - will produce 730 million pounds a year, doubling the facility's production.

Besides the splitter, Diamond Shamrock is also a partner in a propylene export facility on the Houston Ship Channel.