July 23, 2010

Chilean salmon farm to use copper cages

Chile's Ventisqueros SA has obtained 40 copper alloy cages for farming salmon after signing an agreement with EcoSea Farming SA on July 15.
 

Under the agreement, 26 meshes and a floating system were leased for the cultivation of salmon, making the Chilean company the worldwide leader in the use of such cages.
 

The 40 square units will be operational from August 2010 until the end of the year.
 

EcoSea Farming SA, a consortium formed by Codelco, the Fundación Chile, the International Copper Association-Procobre, Católica de Valparaíso University, Concepción University and the company Sitecna, have made significant achievements in using this technology for fish breeding.
 

So far, the firm have made 44 out of the 60 copper alloy meshes measuring 30 metres available for the domestic market, two multipurpose submersible cages usable under high waves (9m high waves), one of which is anchored in Region XI and the other is in the process of being finished.
 

Also, the first cage which is 50 metres in size will be put in the Norwegian market in late 2010 or early 2011, for the use of Atlantic salmon farming, Portal Minero reported.
 

In January, Ventisqueros SA reached an agreement with its four creditor banks to refinance their liabilities by US$42 million.
 

The new covenant with the bank covers a period of seven years: two and half years for gain and a period of four and a half years to pay off the debt at a competitive interest rate.