The Chilean companies of Angelini,Von Appen and Minera Isla Riesco are investing $530 million in a new production facility in southern Chile that should commence production in 2013. This will involve construction of a new port, costing $100 million, at Punta Lackwater. There will be a wholly mechanized quay, 500m long, which will be able to accommodate vessels of up to 140,000dwt. These are expected to handle up to six million tonnes of coal each year. BC