Peruvian miner Minsur MINSURI1.LM has announced a $2.25 billion investment to expand its copper operations, according to the country’s mining ministry.
The declaration came after a meeting between Minsur CEO Juan Luis Kruger and Peru’s Energy and Mines Minister Oscar Vera.
Minsur plans to invest $1.8 billion in Justmine, a joint venture between the corporation and the Chilean mining giant Copec. Deposit reserves are likely to increase by 30 percent.
According to official data, the mine produced 126,036 fine metric tons of copper in year and was the world’s seventh-most prolific copper mine.
Peru is the world’s second-largest copper producer, after Chile.
Minsur also wants to invest $450 million in the upgrading of Minera Raura, its polymetallic producer.
