Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Aluminum Corporation of China (Chinalco) has announced that its Toromocho mining project in Peru will initiate production in 4Q 2013 and will reach maximum production in 3Q 2014.
The copper, silver and molybdenum mine is estimated to produce 865,600 tons of copper concentrates a year by 2015.
Production from the mine will be primarily exported to China.
Source: Terra Networks is a web portal owned by Spain’s Telefónica Group. The site covers domestic, regional and international news.
Source (Spanish): Terra via Brightwire News.
