Company News

Peru Antamina sees copper output rising up to 40 pct

LIMA, Sept 8 (Reuters) - Antamina, a leading copper-zinc mine in Peru, said on Wednesday its copper output would rise by up to 40 percent after a $1.2 billion expansion is concluded.

Antamina is a joint venture between BHP Billiton Ltd BHP.AXBLT.L, Xstrata XTA.L, Teck Cominco Ltd TCKb.TO and Mitsubishi Corp 8058.T.

“Our copper output will grow between 30 percent and 40 percent per year with this expansion,” Antamina President Ian Kilgour told a news conference in Lima.

The company produced 343,179 tonnes of copper and 495,420 tonnes of zinc in 2009, according to Peru’s Mining Ministry.

Antamina’s expansion was approved by its shareholders in January and construction work will be finished in the second part of 2011. The expansion is expected to extend the life of the mine to at least 2029. (Reporting by Patricia Velez. Editing by Helen Popper and Richard Chang)