The International Resource Journal: Xstrata’s $1.87 bn deal for Peru copper mine expansion

Xstrata’s $1.87 bn deal for Peru copper mine expansion
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Resource News on 08 July, 2010 06:20:00
 
IRJ July 8 - One of the mining industry’s biggest players, Xstrata, today
announced plans worth $1.87 billion to develop its Antapaccay copper deposit in
Peru. This mine is just 10 kilometres from the company’s Tintaya
operations, due to reach the end of its mine life in 2012. Antapaccay offers
potential to boost this to an average of 160,000 tonnes for the first six years
and greatly extend the mine life there.
"The development of the Antapaccay project will continue the operation's
transformation into an impressive, long-life, low-cost operation," Mick Davis,
Xstrata’s CEO, told press.
This billion-dollar announcement comes quickly after the company’s
previous news that it will develop its nearby Las Bambas project with a $4.2
billion investment.