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He La Granja mining projectlocated in the Kerokoto region (Chota province, Cajamarca), will receive higher investments than expected, said the public company Activos Mineros SAC (Amsac).
Following the signing of an addendum to the project transfer agreement with Rio Tinto Western Holdings Limited, the investment value increased from US$2,000 million to US$2,400 million.
As is known, Rio Tinto Company was awarded the project in 2006. It is currently being incorporated into First Quatum to co-finance the capital and operating costs of the feasibility study and development of the project.
Prior to signing the supplementary agreement, Rio Tinto announced that the merger of First Quantum Minerals Ltd. was given as a strategic partner in order to ensure the continuity of the project and its guaranteed execution.
It is also indicated that with additionRio Tanto paid an amount of US$16.3 million, of which almost half will be used to benefit the surrounding communities.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.