Nexa says to invest $1.17 bln in Peru, Brazil in five years
Brazilian mining company Nexa Resources plans to invest some $1.17 billion in copper and zinc projects in Peru and Brazil over the next five years, the company’s general manager Ricardo Porta said on Friday.
About $816 million will be invested in Peru, including $555 million in copper projects and $216 million in zinc, Porta said in an interview.
The proposed mine closest to being developed is Aripuana, a $354 million zinc project in Brazil slated to start production in 2020. “We hope to achieve final (government) approval of the project in coming months,” Porta said on the sidelines of a mining conference in Lima.
The Shalipayco zinc project and the Magistral and Pukaqaqa copper projects in Peru would follow, Porta said. Shalipayco would likely start production in 2021, Magistral in 2022 and Pukaqaqa in 2023, he said.
“Between Brazil and Peru we have seven projects,” Porta said, adding that the company’s priority was to raise its reserves, which have been growing at about 5 percent per year.
Nexa operates five mines in Brazil and the Milpo, Atacocha and El Porvenir mines and the Cajamarquilla zinc refinery in Peru.
The company expects to produce 600,000 tonnes of zinc this year, Porta said.
(Reporting By Marco Aquino, Writing By Mitra Taj).
More News
Mineral Resources pauses haulage at Onslow Iron after road train mishap
Haulage is continuing through contractor vehicles using alternative routes.
March 18, 2025 | 03:07 pm
Saudi Arabia awards mining exploration licenses to local, international firms
The exploration licenses cover the kingdom's first mineralized belts located at Jabal Sayid in Madinah and Al Hajar in Aseer.
March 18, 2025 | 03:05 pm
ArcelorMittal, South Africa near funding deal to save mills
The government plans initial support of about 500 million rand specifically to pay steelworkers over a period of six to eight months.
March 18, 2025 | 02:22 pm
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments