The mining group wants to invest significantly more money in the expansion of the Antapaccay copper mine than previously planned, Reuters has reported.
This content was published on
1 minute
AWP/Reuters/dos
Português
pt
Mineradora suíça planeja investir US$ 1,5 bi em mina de cobre no Peru
Overall, the Swiss-based mining giant is planning investments of $1.5 billion (CHF1.65 billion), up from the $590 million previously foreseen.
With this step, Glencore wants to advance the stalled Coroccohuayco copper project, as the mine boss in Antapaccay, Carlos Cotera, told Reuters on Monday in Peru’s capital Lima.
The goal is also to extend the life of the mine by decades, at least until 2045, he added.
Protests by the local population against the project have broken out in the past, while there have also been questions about the quality of ore at the mine. Cotera said that copper production has fallen steadily, from 221,000 tons in 2016 to around 150,000 tons a year now.
In the future, thanks to the Coroccohuayco project, copper mining is expected to rise again to 250,000 tons, Glencore hopes. The background to expansion plans in Peru is the increasing global demand for copper, notably spurred by sales of electric cars.
Peru is the second-largest global source of copper after neighbour Chile.
More
More
Glencore’s coal conundrum that won’t go away
This content was published on
Could Glencore’s bid for another mining firm change its stance on coal?
This content was published on
Thomas Schinecker, CEO of Swiss pharma firm Roche, has dismissed fears that sales targets would be under threat by US tariffs.
This content was published on
Researchers are asking the Swiss public for help in naming two newly discovered Swiss fish species of the genus Barbatula.
Science alliance warns against Swiss government’s cost-cutting plans
This content was published on
An alliance of research and science institutions have warned of dire consequences if the Swiss government goes ahead with its austerity package.
Accidents during leisure time on the rise in Switzerland
This content was published on
IN 2024 more people had accidents during leisure time than in the previous year. Some 26% of all sports accidents happened playing football.
This content was published on
Apple's iPhones have gained further market share in Switzerland. Around half of all smartphone owners used a model from the US tech giant last year.
Switzerland receives poor marks in fight against public sector corruption
This content was published on
Switzerland is not improving in the fight against corruption according to the Corruption Perceptions Index published by Transparency International.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.