August 1, 2008
Peruvian Cerro Verde Plans $1 Billion Expansion, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) -- Sociedad Minera Cerro Verde S. A. (Arequipa, Peru) is planning a $1 billion expansion at its Cerro Verde copper mine in order to boost production from 300,000 tons of copper per year to 400,000 tons per year. Sociedad Minera Cerro Verde is controlled 53.56% by Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX), 21% by SMM Cerro Verde Netherlands B.V., 18.5% by Compania de Minas Buenaventura S.A. (NYSE:BVN), and 6.94% by other shareholders.
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SOURCE: Industrial Info Resources