Canada’s Rio Alto to Begin Peru Copper Project in 2010

6 December 2009 (Last Updated December 6th, 2009 18:30)

Rio Alto Mining will begin construction work at its La Arena copper and gold project in the northern region of La Libertad, Peru, mid-2010 with production scheduled to commence by the end of the year. According to Rio Alto COO Alex Black, in the first year of production the mine is expe

Rio Alto Mining will begin construction work at its La Arena copper and gold project in the northern region of La Libertad, Peru, mid-2010 with production scheduled to commence by the end of the year.

According to Rio Alto COO Alex Black, in the first year of production the mine is expected to generate 50,000oz of gold and then subsequently generate 100,000oz per annum for five or six years.

The Peruvian mine has a 20-year life and contains an estimated three billion pounds of copper and four million ounces of gold reserves.

Rio Alto is showing keen interest in Peru, which is a major exporter of metals.