Caixin
Jun 06, 2018 05:44 AM
BUSINESS & TECH

Chinalco Launches $1.3 Billion Expansion of Peru Copper Mine

Mountains overlook the town of Morococha, Peru, where the Toromocho copper mine is located. Photo VCG
Mountains overlook the town of Morococha, Peru, where the Toromocho copper mine is located. Photo VCG

State-owned mining giant Aluminum Corp. of China (Chinalco) started a $1.3 billion expansion of the Toromocho copper mine in central Peru to expand production by China’s largest overseas copper asset.

The project is expected to lift the Toromocho copper mine’s annual capacity to 300,000 tons by 2020 from the current 220,000 tons. The mine, which started production in December 2013, produced 200,000 tons of copper in 2016, according to Chinalco.

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