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.
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