Chinese miners will make their presence felt in Peru as they plan to invest $3bn next year towards development of mines in the country.
The Aluminium Corporation of China (Chinalco) says it will make a $2.15bn investment to upgrade the Toromocho open pit copper mine located in Junin, Peru.
The Romero Group’s transport and warehousing company Ransa will contribute $4.6m for logistics at the mine.
Chinalco has set a target of 200,000t of copper production at the mine in early 2012.
China’s Shougang Hierro Peru plans to make an investment of $1bn towards development work at a new mining area that will help the company achieve ten million tonnes iron ore output.
Shougang has been carrying out iron ore mining and processing at San Juan de Marcona in Peru.