Chinese mining firm Minmetals has reported that it will begin constructing its Galeno mine in Peru in 2010. The mine will produce copper, gold, silver and molybdenum from 2014. The project to develop the mine will require an investment of USD 1bn (EUR 666mn). A feasibility study has shown that the mine will be capable of producing some 144,000 tonnes of copper concentrate per year during its 20-year life span. Minmetals is part of a group of Chinese companies that will invest USD 6bn in Peru during the next three years.
Publication: Esmerk - News monitoring
Provider: Esmerk
October 23, 2009
10/24/09
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