Chile's newest and largest coal mine, Mina Invierno, which started production in January has to date exported a total 435,000 mt of thermal coal in five vessels, including two Capesize [around 300,000 mt] cargoes to India, said a spokesman for one of the mine owners Wednesday.

Santiago-headquartered shipping company Ultramar and Chilean industrial and energy group Empresas Copec each own a 50% stake in the Mina Invierno coal mine which is located on Riesco Island to the west of the Brunswick peninsula and close to the Strait of Magellan at the southern tip of Chile.

"As of today [Wednesday] we have loaded and dispatched five vessels from Handysize to Capesize with a total of 435,000 mt of coal, while at the same time testing the new [mine's] facilities in the commissioning process," said Ian Philippi, a Mina Invierno manager, in an emailed reply to Platts' questions received on Wednesday evening.

Mina Invierno is expected to produce around 2.5 million mt of coal in 2013, and to ramp up to a production of 5.5 million mt over the next few years, said Philippi.

The mine produces thermal coal with a gross calorific value of 4,100 kcal/kg, 0.4% sulfur, 21% ash and moisture of 20% on an as-received basis that is being shipped to both domestic end-user customers in Chile and into the international seaborne market, he said.

"As of today [Wednesday], two Capesize vessels have been shipped to India. We plan to get to as many countries as possible, mainly in Asia and Europe, but without restrictions in terms of markets," Philippi said.

"In the medium to long term, 30-40% of total production could be available for export," he added, which at Mina Invierno's full production rate of 5.5 million mt/year would work out to around 1.6 million-2.2 million mt/year of coal exports.

Details of Mina Invierno's coal prices and production costs were unavailable, as Philippi would say only that the mine's project cost was "competitive for international markets."

Coal extraction started at Mina Invierno in January, after overburden removal commenced at the mine site last April, said the company executive.

Chile is "heavily dependent on energy imports" including coal and oil, and in the 2011 year the South American country imported 8.2 million short tons of coal from countries including Australia and Colombia, according to the US Energy Information Administration website.