Las Bambas will be one of the world’s largest copper mines after it starts up in 2015, with annual output equivalent to more than twice the amount of copper MMG currently produces.
The news come only weeks after the government announced it would begin funding explorations projects to locate deposits of the coveted elements.
Currently China is the second largest producer of the red metal, with an annual output of about 1.6 million tonnes per year.
Miner allegedly failed to pay the soldiers a periodical fee in exchange for them turning a blind eye to illegal mining on Venezuelan territory.
China's 'Order 9' makes it much easier for domestic companies to make acquisitions abroad.
Cajamarca region governor Gregorio Santos was ordered to jail for 14 months amid a corruption probe. Supporters claim he is being target of political repression for opposing Newmont's mine.
Community mobilization effective at raising costs to companies.
Former head of the National Federation of Artisanal Miners of Peru claims the union gave Humala's party 17kg of gold to help finance his campaign.
Ricardo Carrión and Alberto Arispe of Peru-based Kallpa Securities have a boots-on-the-ground view of the politics, legal battles and investment climate for precious metals mining in the Andes.
Driven by China's seemingly insatiable demand for concentrates as more smelter capacity comes on-line and refined copper imports diminish, the need for foreign sourcing of copper raw materials is increasing.
The region produces 45% of the world’s copper, 50% of its silver, 26% of its molybdenum, and equally high percentages of zinc, gold and iron ore.
On May 21, 2014 Rio Alto Mining (RIOM-NYSE) announced that it would buy Sulliden Gold (SUE-TSX.V) in a deal valued at $300-million, creating a Peru-focussed gold miner.
But long-term future uncertain, reveals study.
The official was especially critical of the other two countries openness to foreign investors.
The head of the world’s second largest mining company, Sam Walsh, said he will soon stop focusing on cost cuts to centre on growth again.
Copper has gained an increasingly important role in Glencore Xstrata's portfolio since last year’s mega merger.
The company stated this decrease was primarily due to lower sales volumes and lower copper prices compared to the first quarter of 2013.
Vancouver-based miner's step-out drilling at producing San Jose mine shows great expansion potential.
Tension grows as the illicit miners keep evading government efforts to bring them into the formal economy.
The South American nation lost the title to China in 2012.
The Vancouver-based miner's shares surge after its silver and gold properties in Mexico and Peru up production more than 50%.
Chinese buyers cough up $6.3 billion in cool hard cash for massive Peru copper project indicating renewed confidence in prospects for the red metal.
The ruling was sparked by inspections carried out from March 16 to March 20 that detected contaminants in adjacent lakes.
They want the government to ease a regulation that forces more than 70,000 miners to register their mining activities by April 19 or otherwise face sanctions, including jail.
This is the first statement in which MMG has confirmed its intention to buy Las Bambas.
Las Bambas copper mine, located in Peru, is expected to fetch between $5 and $6 billion.
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