A multi-billion-dollar copper mine in Peru has taken a big step closer to production.
Minsur has announced this week that it will begin construction at its $1.6 billion Mina Justa copper project.
The company is targeting a production start date in 2020/2021, with output expected to reach 102,000 tonnes of copper and around 58,000 tonnes of copper cathode per year.
Mina Justa is being developed by Minsur SA, a company of the Breca Group (Peru), with 60%, together with the subsidiary Alxar Internacional, with 40%.
Chilean industrial conglomerate Empresas Copec holds a 40% stake in Cumbres Andinas S.A. a subsidiary of Minsur, part of the Breca Group conglomerate.
Juan Luis Kruger, CEO of Minsur, stated "Mina Justa is the most important project that the Company has undertaken in its history. It represents a transformative milestone in our growth and diversification strategy in the copper industry, enabling us to develop a large‐scale and world class mining asset "