Peru’s Cerro Verde Copper Expansion May Cost $3.5 Billion

Bloomberg reports that Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and partner Cia. de Minas Buenaventura SA are studying a $3.5 billion expansion of their Cerro Verde copper mine.

The market news is quoted as saying:

An expansion that could triple copper treatment capacity at Peru’s third-largest copper mine depends on water and mine waste storage availability, Benavides said today on a conference call with analysts. Peru is the world’s second-largest copper producer after Chile.

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