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Volcan studying copper projects to tap prices-18th China(Guangzhou)Int¡¯l Non-Ferrous Metal£¨Copper£©Exhibition
6/15/2017 Copper exhibition -non-ferrous metals expo |
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BNAmericas reported that Peru''s largest zinc-silver miner Volcan is looking to develop a package of copper projects in the central Andes in a bid to tap surging prices of the metal.
Jos¨¦ Montoya, Volcan''s head of corporate planning said that Volcan plans to drill 170,000m at its properties this year, 30% of that at its copper projects including Chumpe, Rica Cerreña and Carhuacay¨¢n. Carhuacay¨¢n, which has been explored by Rio Tinto, has resources estimated at 60Mt of 0.35% copper and 0.45g/t gold.
Prices of copper, used extensively by the telecommunications, auto and electronics industries, have risen 27% over the past year, reaching around USD 2.60/lb on the Comex this week.
Peru is expected to boost copper output to 2.7Mt this year from 2.5 million tonne in 2016, as mines including Cerro Verde, Las Bambas, Toromocho and Constancia ramp up production.
Montoya said at the Minpro mining conference in Lima that "Major copper producers have shown interest in properties in the area as a result of the development of Toromocho. It''s part of our strategy to look for joint ventures. We want to provide value for these properties."
Mr Montoya said that Volcan also plans to drill 10,000m at its Pragjanca zinc-lead-silver property this year, plus 3,000m at Shuco (zinc-lead) and 2,500m at Zoraida (zinc-lead-silver), in addition to exploration work at the Palma, Romina 2 and Vinchos poly-metallic properties.
-18th China(Guangzhou)Int¡¯l
Non-Ferrous
Metal£¨Copper£©Exhibition
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