Copper $ 5.454 / lb 1.74%

Brent Crude Oil $ 63.75 / bbl 0.71%

Palladium $ 1502 / ozt 1.35%

Crude Oil $ 60.08 / bbl 0.64%

Natural Gas $ 5.337 / Btu 5.12%

Silver Futures $ 58.8 / ozt 2.15%

Aluminum Futures $ 2918 / ton 0.09%

Micro Gold Futures $ 4227.1 / ozt -0.26%

Micro Silver Futures $ 58.805 / ozt 2.23%

Platinum $ 1655.1 / ozt -0.50%

Gold Futures $ 4243 / ozt 0.08%

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Peru Miner Milpo to Invest $400 Million in Copper Project: Bloomberg

Andrew Topf | April 15, 2011 | 8:45 pm Base Metals Latin America Copper Molybdenum

Copper, gold and money laundering: Peru main exports in 2012

Bloomberg reports:

Cia. Minera Milpo SA, a Peruvian zinc and lead miner, won the bidding for a copper and molybdenum deposit stripped from Inca Pacific Resources Inc. (IPR) last year and will invest $400 million in the project, the government said.

Lima-based Milpo will start up the Magistral deposit in the northern Andes in 2015, state investment promotion agency Proinversion said today in an e-mailed statement. Peru canceled Vancouver-based Inca Pacific’s concession in October, alleging the company failed to meet investment commitments.