Chinese mining company Minmetals is planning to start the construction at copper mine El Galeno (in Peru) next year, so that they can start producing in 2,012, according ro "China Daily" (as quoted by Invertia).
El Galeno was acquired by China Minmetals and Jiangxi Copper Corp., and it has been estimated that it has reserves for 20 years, and that it would produce 144,000 tons of copper annually.
The company is increasingly looking to South American markets for mine resources and investment. Copper was its main focus, apart from other metals like iron, zinc, nickel and lead, said the newspaper, citing Zhang Shoulian, the company’s assistant president.
According to China Daily, the company is also looking to extend its global footprint for mining resources to Europe.
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