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Home / Metal News / Chile Fuel, Forestry Co Copec Buys $75 Million Copper Project

Chile Fuel, Forestry Co Copec Buys $75 Million Copper Project

Mar 10, 2011 09:50

Source:SMM

SANTIAGO, Mar 09, 2011 (Dow Jones Commodities News via Comtex) -- Chilean fuel and forestry conglomerate Empresas Copec SA (COPEC.SN) acquired the Diego de Almagro copper mining project for $75 million, the company said in a statement.

Earlier this year, Copec ventured into the mining sector, the backbone of the Chilean economy, when it bought a small gold mine for $35 million.

The copper project will require a $107 million investment through 2013 for development

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