China to invest $1.3bn expanding Toromocho, its largest overseas copper project

26 Nov

mining.com 24 Nov, 2016

Chinalco has inked a preliminary deal with Peru’s government to expand Toromocho copper mine in Peru. China is pouring close to $5.3 billion into Peru’s mining and energy sector. The company is expected to inject $1.3 billion into Toromocho in the upcoming months. A similar agreement is reached with Zhongrong Xinda Group Co. to finance Hierro Pampa de Pongo mining project in Arequipa, with an investment close to $1.5 billion. Peru also signed a third pact with Xiamen Zijin Tongguan Investment Development Corporation, for a $2.5 billion additional investment in the Rio Blanco copper project.

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