Cerro Verde [SEP] industry
Cerro Verde
Cerro Verde is a Peru-based mining company. Its activities include the extraction, exploitation and production of copper from the porphyry copper deposit located southeast of the city of Arequipa. In addition, the company holds a copper sale agreement with Sumitomo Metal Mining, as well as a molybdenum sale contract with Climax Molybdenum Company.
Cerro Verde project is undergoing a major expansion in order to increase its concentrator facilities to 360,000 metric tons-per-day (mtd). Fluor Corporation is in charge of the construction
Cerro Verde mine
The Cerro Verde mine is a very large copper mine located about 20 miles southwest of Arequipa, in southwestern Peru. Cerro Verde represents one of the largest copper reserves in Peru and in the world, having estimated reserves of 4.63 billion tonnes of ore grading 0.4% copper and 113.2 million oz of silver.
In 2014, The Bank of Tokyo-Mitsubishi UFJ and other lenders gave a 5-year US$1.8 billion unsecured loan for a major expansion of Cerro Verde. Total projected capital cost of the project was