Peru Evaluating $2.4 billion Mineral Railway as Copper output Increases – Copper Jumped High
Jan, 11th 14:27
The government of Peruvian President Pedro Pablo Kuczynski is evaluating a $2.4 billion railway project to transport mineral concentrates from the copper-rich Andean region to the Pacific coast for export, a government official told Reuters Wednesday.
Preliminary estimates suggest the project would cost at least $2.4 billion and would likely be paid for through joint public-private financing, Labo said. But the transportation ministry must first study the proposal and determine if it would be feasible.
Peru’s southern copper belt is expected to be a key source of the country’s future copper output.
Las Bambas alone produced about 453,000 tonnes of copper last year, said Labo.
Peru, the world’s second largest producer of copper, expects to produce at least 3 million tonnes of copper in 2021. Copper climbed 0.36%, as concerns over low stock levels and production outages lent support to the market.
Copper Futures are trading in the positive zone on the daily charts. The market is trading above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day).
Buy digital Call options between 3.2440, and 3.2619, valid until 23:00 GMT January 11
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