Peru seeks investors to build copper smelting unit

This piece of news may sound like a “Peruvian classifieds” section, but is another prove that mining in the country keeps doing well: in an interview held on Wednesday, Hans Flury, head of Peruvian National Society of Mining, said the Latin American nation is currently seeking investors to build a copper smelter on the northern coast, to help double the country’s output of the metal in a decade.

Extra smelting capacity is required as new mines are expected to be commissioned and raise annual output to 2.4 million tonnes by 2017. Mining companies have already announced investments of more than US$ 18 billion, and new processing facilities are considered the best way to develop the country and keep freight costs low.

Currently, the country has two copper smelters operating, owned by U.S.-based Southern Copper and the bankrupt Doe Run.