Brazilian mining company Nexa Resources plans to invest some $1.17 billion in copper and zinc projects in Peru and Brazil over the next five years.
About $816 million will be invested in Peru, including $555 million in copper projects and $216 million in zinc. The proposed mine closest to being developed is Aripuana, a $354 million zinc project in Brazil slated to start production in 2020.
The Shalipayco zinc project and the Magistral and Pukaqaqa copper projects in Peru would follow. Shalipayco would likely start production in 2021, Magistral in 2022 and Pukaqaqa in 2023.
The company's priority is to raise its reserves, which have been growing at about 5 percent per year. The company expects to produce 600,000 tonnes of zinc this year.