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MEI Online: Commodities: Metallic Ores: Copper: Latest News: October 29th 2009


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:: China Minmetals to Construct Peru Copper Mine in 2010

China Minmetals says it will begin construction of its Galeno copper mine in Peru in 2010 with production expected to commence in 2012.

China Minmetals assistant president Zhang Shoulian said the $1bn Galeno copper mine is currently undergoing comprehensive feasibility studies.

"After this, construction will start next year. Two years later, production will be launched," Zhang said.

China Minmetals, which holds a 60% stake in Galeno, had previously declared a 2014 target for commencing operations at the mine.

A 2007 feasibility study on Galeno demonstrated that over two decades it would annually generate 144,000t of copper in concentrate, annually averaging 200,000t in the first five years.

Another stakeholder in Galeno is China's publicly-traded Jiangxi Copper.




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