Minsur to secure $900 million for $1.6 billion construction of Mina Justa copper project

By Dale Benton
A Peruvian mining company is expecting to secure a major financing investment to begin the construction of a multi-billion-dollar copper mine. Minsur h...

A Peruvian mining company is expecting to secure a major financing investment to begin the construction of a multi-billion-dollar copper mine.

Minsur has revealed that it is expecting to secure between $800 million to $900 million in financing from a group of multinational banks from German, Canada, Australia and South Korea to begin construction on its $1,6 billion Mina Justa copper project.

The Mina Justa copper project is expected to begin operating in 2020, targeting a production rate of around 100,000 tonnes of copper.

The news come not long after the company announced that it had sold a 40% stake in the project to the Chilean Conglomerate Inversiones Alxa S.A. in a transaction valued at $200 million.

Juan Luis Kruger, CEO of Minsur, stated "Mina Justa is the most important project that the Company has undertaken in its history. It represents a transformative milestone in our growth and diversification strategy in the copper industry, enabling us to develop a large‐scale and world class mining asset "

Related stories:

Peru continues its mining renaissance

Southern Copper Corporation wins tender for Peru Michiquillay copper project

Peru exploring potential for $2.4 billion mineral railway for increased copper production

 

And the good news continues to roll for Minsur, as the company was also recently inducted into the International Council on Mining and Metals (ICMM) after a year long assessment.

The organisation brings together mining companies from around the world that meet the highest sustainability standards and champions the safety, environmental and social performance of the industry.

Gonzalo Quijandría, Minsur’s Director of Corporate Affairs and Sustainability indicated that sustainability is the present and the future of mining. “Our brand ‘SusTINable tin’ highlights the value of our principles and sustainability management. Furthermore, it positions Peruvian mining industry as the one meeting the highest global standards, which shall make all Peruvians proud”, he mentioned.

 

Share

Featured Articles

Mining Firms 'Should Consider Hydrogen-Driven Mining Trucks'

SRK Consulting Senior Mining Engineer Tyrone Woodfin urges mining companies to consider using green hydrogen-powerered mining vehicles as well as EVs

Platinum Slump Sees ARM Target China Chrome Market

African Rainbow Minerals reacts to plummeting platinum profits by targeting chrome ore output to feed strong chromium demand from China's steel industry

Schneider Helping Mining Balance Demand with Sustainability

As demand for transition metals soars, Schneider Electric is helping mining meet climate goals while mitigating environmental and social impacts

Coal Power 'on Wane but China & India Account for 86%'

Supply Chain & Operations

West Must Wrest Lithium Supply From China, Brinsden Urges

Supply Chain & Operations

EVs 'Send South Africa Platinum into Irreversible Decline'

Supply Chain Management