Peru Approved Technical Report for Cerro Verde Copper Mine Expansion Project

Cerro Verde accounts for almost 19% of the copper and 34% of the molybdenum produced by the country.

SEATTLE (Scrap Monster): The Peruvian Ministry of Energy and Mines announced that it has approved the technical report in connection with the $600 million Cerro Verde copper mine expansion project. The vital approval is expected to help the country to attain annual copper production of four million tonnes.

Romulo Mucho, the country’s Minister of Energy and Mines announced the approval of the Sustaining Technical Report (ITS) of the proposed expansion of the Cerro Verde mining unit. The country aims to promote sustainable mining projects as mining activity is found to contribute big to the nation’s economic growth, thus resulting in significant improvement in the quality of life of its citizens, he added.

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Cerro Verde accounts for almost 19% of the copper and 34% of the molybdenum produced by the country. It hosts a large concentration facility, with a milling rate in excess of 400,000 metric tons of ore per day.

The project, expected to become operational in 2026, is projected to deliver targeted average mill production rate of more than 4 million tonnes of ore per day through 2044. The reserves are expected to last until 2052.

Also, the country announced the approval of a modified environmental impact assessment for the Tantahuatay project.