Peru Launches Michiquillay Copper Mine Tender

Peru Monday launched the tender of copper mine Michiquillay. The government, via private investment promotion agency ProInversión, is looking for investment of between $300 million and $700 million. Michiquillay, located in Cajamarca, close to South America’s largest gold mine Yanacocha, has reserves of copper, gold and silver estimated at 544 million metric tonnes. Those expected to participate in the tender process include Southern Copper Corp and Compañía de Minas Antamina. The results of the tender are due to be announced in mid-December.