The recent awarding of Michiquillay mega mining project is great news for Peru, particularly for Cajamarca region, President Pedro Pablo Kuczynski affirmed.
Held on Tuesday morning in Lima, the auction event saw the participation of Southern Peru Copper Corporation and Milpo mining company, even though there were
10 qualified bidders.
Thus, Peru's State-run Private Investment Promotion Agency (ProInversion) declared Southern Peru the winner, as the corporation's offer exceeded that of Milpo company (US$250 million + 1.875% in royalties).
Michiquillay mining project includes a porphyry copper deposit featuring minerals such as
copper,
gold, silver, and molybdenum. Corresponding investment entails some US$2 billion.
(END) JCC/CCR/JAA/MVB
Published: 2/20/2018