Peru: Cerro Lindo mine opened by Milpo

The Cerro Lindo mine starts up today in the Peruvian province of Chincha and will permit Compania Minera Milpo, owner of the operation, to double its production and assets. Over the last three years, Milpo has invested over US$150mil without recourse to a single bank loan, a fact that Abraham Chahuan, general director of the firm, is rightly proud of. Chahuan would like to see Peru refining metals and offering products that have been elaborated at least partially. Meanwhile, his own firm has been growing fast; its copper mine Chapi has been functioning for over a year now in Moquegua (after investment of US$35mil with Cerro Lindo costing US$115mil to open). Its next projects will be Pukaqaqa and Hilarion, the former 17 kilometres outside Huancavelica, the latter located in Ancash. Milpo is also looking to work in Colombia and Argentina.

Publication: SABI - Business News
Provider: South American Business Information
Date: July 23, 2007

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