Peru's Cerro Verde Seen Boosting Copper Output By End Of 2010
21 Juli 2010 - 10:20PM
Dow Jones News
Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) is expected to
increase copper production to 120,000 metric tons per day, from
108,000 tons per day, by the end of the year.
The increase will mean an annual production increase of about 30
million pounds of copper, said Freeport McMoRan Copper & Gold
Inc. (FCX)--owner of a 53.56% interest in Cerro Verde--in its
second-quarter results.
The project, which will optimize throughput at Cerro Verde's
concentrator, will cost about $50 million, the company said in a
press release published Wednesday.
Freeport McMoRan also said that, thanks to increased reserves at
Cerro Verde, it is evaluating a large-scale concentrator expansion
at Cerro Verde which could more than double concentrator capacity.
A feasibility study should be completed in the first half of
2011.
-By Sophie Kevany, Dow Jones Newswires; 51-198-903-8043;
sophie.kevany@dowjones.com
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