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Southern Copper was awarded the Michiquillay copper project in Cajamarca, Peru, amounting to an investment of US$ 2 billion, in one of the most relevant mining projects in the South American country, reported ProInversi?n, an official local agency tasked to promote private investments in Peru.
Southern Copper won the tender with a transfer price of US$ 400 million and a contractual royalty of 3%, the agency reported on Twitter.
The deposit is part of a portfolio of US$ 50 billion projects through which the government intends to compensate for the drop in investments following the corruption scandal that linked President Pedro Pablo Kuczynski with Odebrecht, which paralyzed important infrastructure works in the country.
