por carl_ » Mié Nov 10, 2010 10:07 am
Chinalco Delays Mass Production at Toromocho Copper Project
Posted on: Wed, 10 Nov 2010 05:46:56 EST
BEIJING, Nov 10, 2010 (SinoCast Daily Business Beat via COMTEX) --
Aluminum Corporation of China (Chinalco) may have to delay mass production at its USD 50 billion Toromocho copper project in Peru until 2013 due to difficulties in removing local residents into new residence.
Chinalco is constructing a new town in the neighboring region in order to accommodate more residents to be removed out of a town located in the central of Toromocho copper mine. Although the Chinese company has offered free houses for them, some residents are reluctant to move in an attempt to obtain more compensation. It is expected all of the residents will be removed in 2012.
Toromocho copper project is estimated to produce 250,000 metric tons of copper per year and significant output of zinc and silver. Chinalco expects to invest USD 2.2 billion in the project as of 2011