The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually.
Peru Mining News
China is Peru's top trade partner and imports most of the minerals the South American country produces.
Southern Copper Corp. is preparing to scale the ranking of global producers by spending more than $10 billion in Peru and Mexico.
The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
Bear Creek would also consider selling a stake in the $550m Corani project in southern Peru to help pay for the project.
Buenaventura’s U.S. shares have surged 63 percent in the past two years, the most among peers.
Goldcorp Inc. CEO David Garofalo says he’s happy with his company’s portfolio of assets, but that doesn’t mean he doesn’t have a wish list.
Southern Copper’s Manager of Technical Services said that the company has been able to knock down previous resistance from local communities.
Quellaveco is one of the world’s largest untapped copper orebodies and Anglo’s board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.
A U.S. court ruled that the Chaupe family case against Newmont Mining Corporation should be heard in Peru - not Delaware, where the company incorporated almost 100 years ago.
Workers were demanding higher profit-sharing payouts.
La Oroya polymetallic smelter had been operated by Doe Run Peru, a unit of the U.S.-based Renco Group, from 1997 until the company went bankrupt in 2009 and its assets were transferred to a group of former creditors.
Martín Vizcarra said that he was in favour of promoting mining development in his country.
Pan American Silver management has engaged with the protesters in a mediation process.
Auryn Resources announced that it is close to becoming a big player in the Andahuaylas-Yauri belt in southern Peru.
Southern Copper Corp's chief executive said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4 billion Tia Maria project with a legal injunction.
Mina Justa, which is expected to require investment of around $1.6 billion, is due to begin construction in the second half of 2018.
Only in 2019, Lima expects to receive $2.9 billion in mining investments.
A group of researchers from Berlin’s Humboldt University published a study where they say that mining activities are the leading cause of social conflicts in Peru.
The government of new Peruvian President Martin Vizcarra said it would not "impose" mining projects on nearby communities that object to them.
The Madre de Dios region has seen a surge in illegal mining operations.
Anglo American Plc is moving towards a multibillion-dollar decision on building the world’s next major copper mine in Peru.
There are signs that the stalled $5 billion project could be reactivated.
The world's 10 largest copper mines accounted for 25% global output in 2017 – on average these deposits were discovered 95 YEARS ago.
Chile-focused miner is raising its dividend by 177%.