Chinalco to begin $1.3 billion expansion of Toromocho copper mine in Peru
The largest state owned aluminium company in China has officially started work on a multi-billion dollar expansion of one of its’ copper projects.
Chinalco has announced that it has started work on a $1.3 billion expansion of its Toromocho copper mine in Peru.
In a ceremony at the weekend, Chinalco Chairman Ge Honglin said that through the expansion the project would increase its output by 45% by 2020, according to Reuters.
Related stories:
Rio Tinto completes $300 million sale of Winchester South coal mine
South32 to acquire 50% stake in Eagle Downs metallurgical coal project
Contura Energy and Alpha Natural Resources merge to create US’ largest met coal producer
Through the expansion, Chinalco will see the value of production reportedly exceed $2 billion and its copper concentrate capacity will rise to 157,000 tonnes per day and an annual production of up to 300,000 tonnes.
Toromocho represents one of the largest copper reserves in Peru, with an estimated reserve of 1.52 billion tonnes.
- Hudbay Minerals to buy Copper Mountain in $439 mn dealSupply Chain & Operations
- Teck, Agnico Eagle close San Nicolás copper JV in MexicoSupply Chain & Operations
- Copper prices rise above $9000 for the first time since JuneSupply Chain & Operations
- KEFI targets gold production in KSA and Ethiopia in 3 yearsSupply Chain & Operations
