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Peru to auction $2 billion copper project
Peru has set a date for auctioning the rights to develop the proposed Michiquillay copper mine, located in the country’s northern Cajamarca region, a highly prospective mineral district that already hosts a number of mines according to mining.com.
The $2 billion project, which is estimated to produce close to 80,000 tonnes of copper a day, will be awarded on Nov. 15, state bidding agency Proinversión said in a statement.
The asset used to belong to Anglo American, but the mining giant pulled out of the project in late 2014 due to capital constraints.