A total of $3 bn will be invested by two Chinese mining companies as of 2010, according to statements made Monday during a Chinese trade mission visit to Lima.
The Aluminium Corporation of China, Chinalco, is to invest $ 2.15 bn in developing the Toromocho open pit copper mine in Peru’s central highlands, near Morococha in Junin. During a trade forum organized for the Chinese trade mission by ProInversion, Ren Xudong, vice-president of Chinalco, said production of 200,000 tons of copper is scheduled to begin in early 2012 and that the company aims to make Toromocho the country’s most modern copper mining operation.
Ransa, the Romero Group’s transport and warehousing company, is to invest $4.6 mn in equipment to meet Chinalco’s transport and warehouse logistics for Tomorocho.
At the same trade forum, the president of Shougang, Zhu Jimin, said that Shougang Hierro Peru would be investing $1 billion in developing a new mining area that will allow the company to increase its iron ore production to 10 million tons. Shougang, which acquired its operations in Peru 15 years ago, mines and processes iron ore at San Juan de Marcona, on the coast 530 km south of Lima.
