PERU – Eleodoro Mayorga, the Peruvian minister of energy and mines, recently said that his country will double its copper production by 2016, making it the second largest producer in the world.
The jump is made possible as megaprojects such as Las Bambas (owned by Glencore*) and Constancia (Hudbay Minerals) reach production. Numerous expansions, including those at Toromocho (Chinalco) and Cerro Verde (53.56% Freeport-McMoRan), will also contribute to the increased rate of 2.8 million tonnes annually.
The original report appeared in www.LatinoMineria.com.
*Since sold to a consortium owned 62.5% by MMG Ltd., 22.5% by Guoxin International Investment Corp. and 15.0% by Citic Metal Co.