Sunday, February 08, 2009

Mining: Chinese mining group pours $1bn in to Peru

The Chinese-owned mining company Shougang Hierro Peru is to invest US$1 billion to expand production at its plant in southern Peru by 10 million tonnes per year, the company's chairman said.

"The investment of one billion dollars will help expand the plant's production capacity by 10 million tonnes per year," said Wu Bin after meeting with Peruvian President Alan Garcia.

He said he hoped the plant's expansion would be operational by the end of 2010.
Published by Mike Hitchen, Mike Hitchen Consulting
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