The Ecuador-focused miner said it has discovered "promising" new copper prospects at the Porvenir and Timbara projects, with rock chip samples graded up to 4.27% copper.
The world’s No.1 miner is targeting as much as $1.6 billion in productivity gains at its iron ore, copper and coal units in the country over the next two years.
Decision comes in the wake of a full-scale investor revolt led by the Investor Forum, a London-based body representing some of the world’s biggest money managers.
Gold-silver project is located on the San Anton property in central Mexico’s Guanajuato state, not far from Argonaut’s four other properties in the country.
Legal proceedings were held last week in Toronto related to a case against a Canadian mining company that formerly was operating through a subsidiary in Guatemala.
Mining investment in Peru is expected to grow 9% this year when compared to 2016, marking the end of a three-year decline than began in 2014, to reach $10 billion next year thanks to these projects.