Peru: Xstrata Presents Environment Study For Las Bambas Copper Plan

LIMA, Jul 16, 2010 (Dow Jones Commodities News via Comtex) -- Peru's Energy and Mines Ministry said Xstrata Copper (XTA.LN) has presented an environmental impact study for the Las Bambas copper project in southern Peru.

The government said late Thursday that 5,310 people submitted 466 written questions and made 166 oral queries at a presentation of the study in the Apurimac district.

Energy and Mines Ministry representative Jose Carranza said that the government will take 30 days to gather all the observations made about the environmental impact study.

The company said on its website that a feasibility study completed at the end of 2009 shows average potential production of 400,000 tonnes of copper per year over a period of at least 20 years starting in 2014.

The project could cost around $4 billion, the company has said.

It expects approval for the environmental impact study by the end of the year, Chief Executive Charlie Sartain said in April, with construction to start in 2011.

In August 2004, Xstrata obtained the exploration rights with an option to acquire and operate the Las Bambas copper deposit for $121 million.

Peru is the world's second largest copper producer.