Xstrata Copper to invest $1.5bn in two Peru mines

Xstrata Copper will invest $1.47-billion in two copper mines in Peru, with the goal of increasing production in the country by 60% in 2012, according to a company presentation obtained by Reuters last week. Mining Weekly reports: 

Anglo-Swiss miner Xstrata is expanding its Tintaya mine, which produced 93 000 t of copper in 2010, and is developing the nearby Antapaccay mine. That will bring Xstrata’s Peru copper output to 600 000 t in two years.