Mind Map Description
Interactive Mind Map based on Minera Chinalco Peru website. Source:
Toromocho Copper Mining Project
In 2007, Aluminum Corporation of China (Chinalco) acquired 100% of Peru Copper Inc. (listed in Canada, US and Peru prior to Chinalco's acquisition) for US$860 million. Peru Copper Inc owns the development rights to the Toromocho copper mining project in Peru. Chinalco believes that Toromocho is one of the highest quality undeveloped copper projects in the world, taking into account factors such as its significant reserve, low stripping ratio, long life and infrastructure support. Its estimated reserve of copper is over 7.3 million tonnes and estimated resource is over 12 million tonnes, significantly increasing Chinalco’s copper reserve for future production. Chinalco expects to invest US$2.15 billion in the project to achieve a planned capacity of copper metal of 250,000 tonnes per annum by 2012.
This project represents an important step in Chinalco’s strategic expansion outside China. Chinalco expects to utilise its financial and technical strengths to develop the Toromocho Project.
Chinalco is China’s largest diversified mining company and one of the fastest growing companies in China.
Aluminum Corporation of China Limited, also known as Chalco or Chinalco,
is the only producer of alumina and the
largest producer of primary aluminum in
the People's Republic of China. Chalco is a member of the SSE 50. It is the world’s second largest alumina producer and the third largest primary aluminum producer.
Chinalco is investing $3 billion to begin open-cast mining operations, within three to four years, in Morococha District, Peru. The company plans to extract copper ore from Mount Toromocho. Chinalco holds a 9% stake in Australian mining company Rio Tinto. Source:
Wikipedia, Aluminum Corporation of China Limited.
Mining is the extraction of valuable minerals or other
geological materials from the earth, usually from an ore body, vein or (coal)
seam. Materials recovered by mining include base metals, precious metals, iron,
uranium, coal, diamonds, limestone, oil shale, rock salt and potash. Any
material that cannot be grown through agricultural processes, or created
artificially in a laboratory or factory, is usually mined. Mining in a wider
sense comprises extraction of any non-renewable resource.