China Minmetals to Begin Production at Copper Mine in Peru by 2012

BEIJING, Oct. 22 -- China Minmetals Corp., a major state-owned metals and mineral trader, expects to begin construction of the Galeno copper mine in Peru next year and production by 2012, China Daily reported Thursday.

    The Galeno copper mine, purchased jointly by China Minmetals and Jiangxi Copper Co. early last year, is believed to have 20 years of mine life and an annual production estimate of 144,000 tonnes concentrate.

    The company is increasingly looking to the South American markets for mine resources investment. Copper was its main focus, apart from other metals like iron, zinc, nickel and lead, said the newspaper, citing Zhang Shoulian, the company's assistant president.

    Meanwhile, the company is extending its global footprint for mining resources to Europe, according to the newspaper.

    (Source: Xinhua)