Investment management firm Aluminum Corporation of China (Chinalco) has received a permit to build a new $2.2bn Toromocho copper mine in Peru, the company has announced.

The permit will allow the firm to build major portions of the mine, including crushing and grinding facilities.

The company will start mining in 2013 and is expected to produce the equivalent of about 250,000t of copper a year and small amounts of silver and molybdenum.

The Toromocho mine’s annual output of copper concentrate will reach about 900,000t, reports Reuters.