Toromocho copper mine, the only major greenfield project in Peru, will increase annual capacity by 45% in 2020, owner Aluminum Corp of China (Chinalco) said.
The state-owned company plans to spend $1.3 billion on the ramp-up which will boost annual mining output to $2 billion worth of concentrate per year upon completion, Chinalco chairman Ge Hoglin said at a groundbreaking ceremony in the Peruvian capital of Lima on Friday June 1. The production target was not disclosed in the statement. Supply of copper concentrates has risen in Asia,...