China to Invest $1.3bn into Peruvian Copper Project

Chinalco, China’s main mining company, has signed a preliminary deal with the Peruvian Government to expand the Toromocho copper mine.

The agreement is part of a number of deals signed this week that will see China invest nearly US$5.3 billion into Peru’s resources sector.

Chinalco is expected to commit $1.3 billion to Toromocho, China’s largest overseas copper project, in the coming months.

Another Chinese firm Zhongrong Xinda Group will invest close to $1.5 billion to fund the Hierro Papmpa de Pongo project in Arequipa and Xiamen Zijin Tongguan Investment Development Corporation will provide a further $2.5 billion to the Rio Blanco copper project.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.