Swapping aluminum for copper will maintain China’s resources, group says
China depends on overseas imports for 60% of its aluminum resources as opposed to 70% of its copper resources.
Aug 31 (Reuters) – Chile’s state copper commission Cochilco expects the country’s mining industry to attract a total investment of $65.75 billion spread over 44 operations over the next 10 years, it said in a statement on Friday.
Among the investments, it referenced two new lithium mining projects, three copper and one gold, totalling $5.9 billion, by companies including by SQM , Gold Fields and Antofagasta Minerals.
“The boost to production in copper projects of this portfolio will reach 3.5 million tonnes, the greatest in three years given the significant drop in investment registered since 2014,” the statement added.
(Reporting by Fabian Cambero; Writing by Aislinn Laing)
