Peruvian company Grupo Brescia to extract copper in Chile

Peruvian company Grupo Brescia announced today that it is going ahead with plans to further diversify its investments by mining for copper in neighbouring Chile, reports Portal Minero.

The conglomerate, which already holds significant interests in Chile, said it would begin developing 17 sites that it acquired in 2009, when it bought cement company producer Cementos Melon. The properties encompass 500 hectares, some of which are located near the capital Santiago’s airport as well as in the northern Atacama Region. Brescia also owns another 150 hectares south of Santiago, which will be destined for real estate development.

Last year, Jorge Eugenin, head of Cemento Melon, was quoted by Peruvian online news site Gestión saying that Grupo Brescia would invest approximately US$10 million developing these assets, which apart from copper also have the potential of yielding other metals, such as silver and gold.

Based in Lima, Peru, Grupo Brescia controls tin mining company Minsur, which owns the San Rafael mine in the southern Puno region and Funsur metallurgical complex in the Ica region.

With nearly 40 companies in the financial, mining, fishery, industrial, property and services, Grupo Brescia is today the largest economic group in Peru. Through its subsidiaries, it also has investments in the food, hotel, insurance, agriculture, fruit exports, welding, explosives, paint, chemicals, health, and construction sector.

In the last few years, the company has invested heavily in Chile, first by buying Cementos Melon from the French cement group Lafarge for $555 million and then by purchasing the paint manufacturer Tricolor earlier this year for $96 million. Grupo Brescia is also looking to invest in Chile’s salmon industry by purchasing salmon processing companies.

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With the contribution of Suzanne Soto, owner of Si! Corporate Communications, a Greater Toronto Area company providing public relations services in both English and Spanish.