December 20, 2024
Empresas Copec issues bond for UF 2.5 million
The Company successfully completed a bond issue for an amount of UF 2.5 million (approximately US$ 96 million) in the lo...
Along with grupo Breca and five years after its arrival in Peru, Empresas Copec’s subsidiary Alxar announced the Justa Subterránea project, which in full operation will become the second largest mining initiative in Peru in this kind of extraction.
The project, which is expected to start production in 2027, would increase current reserves by 30%, with more than 500 thousand tons of fine copper, extending the mine’s lifespan by 5 additional years.
Erwin Kaufmann, Minera Alxar’s general manager, said: “It is a project that adds lots of reserves, so we are very happy because after a short time of two and a half years of production, we already have a new project that will mean an investment of approximately US$ 400 million.”