Glencore plans US$1.5-billion investment to expand Peru copper mine

Mining giant Glencore Plc plans to invest $1.5-billion on an expansion project at its Antapaccay mine in Peru, up from $590-million announced previously, a company executive said, in a bid to unlock the stalled plan key to maintaining copper output.

“The Coroccohuayco project means expanding the life of the mine until at least 2045 or 2050, that’s our forecast,” Cotera said on Monday evening on the sidelines of a mining forum in Lima. “We estimate the investment will exceed $1.5-billion.” Cotera said annual production at Antapaccay, one of Peru’s largest copper mines, has fallen steadily from 221,000 tonnes in 2016 to around 150,000 tonnes now, making the expansion project important.

The project has been delayed by social unrest in the province where the mine is located. In September 2022, residents of Espinar opposing the expansion project blocked part of an Andes mining corridor for a few days.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Nvidia surpasses US$1 trillion market valuation - BNN BloombergNvidia Corp. became the world’s first chipmaker with a US$1 trillion market capitalization, joining the ranks of just five American companies with valuations that high.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »

Nvidia hits US$1 trillion in market value on booming AI demandNvidia Corp on Tuesday became the first chipmaker to join the trillion-dollar club, as the company bets on a surge in demand for its AI chips that power chatbot sensation ChatGPT and many other applications.
Fuente: CTVNews - 🏆 1. / 99 Leer más »

Potential Viterra merger with U.S. rival threatens Prairie head office jobsGlencore PLC is in talks to unite Viterra, its agricultural division, with Bunge to create a global business worth approximately US$25-billion
Fuente: globeandmail - 🏆 5. / 92 Leer más »

Viterra-Bunge merger plan backed by CPPIB and B.C. pension giant: reportsA merger between Glencore\u0027s Viterra and Bunge Ltd. has the support of two of Canada’s biggest pension funds, reports indicate. Read more here.
Fuente: nationalpost - 🏆 10. / 80 Leer más »