China Minmetals resources pre $3000000000 to complete the Peru Las Bambas copper mine construction

Chinese Minmetals said, is expected construction will invest about $3000000000 to complete the Peru LasBambas large copper deposit, and the first quarter of 2016 production plan. The cost of the investment scale than previously anticipated, and put into production after the expected.

in August when the Chinese consortium paid $7000000000 to buy LasBambas, copper from Glencore's hands, and on Thursday for the first time listed for the mine plan summary. LasBambas is expected to become the world's third largest copper mine.

said Minmetals resources, participation in the takeover talks, have been aware of the project schedule and cost facing huge risk.

includes the risk of shortage of skilled workers may, tailings dam design may change, and the copper site residents relocation costs may be higher than expected. Relocation residents have led to the project on hold and capital expenditure increase.

"therefore, Minmetals resources is expected in the first quarter of 2016 the first batch of copper concentrate output, the completion of the required LasBambas project capital spending is expected to be 27-32 million," in the quarterly production report said Minmetals resources.

Chief Executive Officer (CEO) AndrewMichelmore said in a statement, "this all in basic we expected, we can optimize the project for the opportunity given attention, while maintaining a realistic expectations."

company will this copper output prediction interval down to 175000-187000 tons, zinc output prediction interval further under the amendment to 565000-590000 tons.

company is expected before the 2014 copper output 177000-190000 tons, 575000-600000 tons of zinc production.