September 11, 2018 LIMA – Peru’s top tin-producing company, Minsur S.A., a company of the Breca Group (Peru), announced that it will start production of the approved US$1.6 billion Mina Justa copper project in 2020/2021, with output set to reach 102,000 tonnes of copper and 58,000 tonnes of copper cathode per year. The production cost of the mine, which is located near major highway and ports in the southern coast region of Ica, is estimated at U$1.40 per pound.
The Mina Justa copper project is the second recent major mining investment in the South American country. Mina Justa is being developed by Minsur (a company of the Breca Group (Peru))(60%) and Empresas Copec (Chile)(40%).
Fasken Lawyers, Alison Lacy (Project Development) and Rachel Yurkowski (Project Development) , were counsel to the owner of the project, Marcobre S.A.C., a subsidiary of Minsur S.A., advising on the development of the project, including the procurement for, and the preparation and negotiation of the engineering, procurement and construction management agreement.
Project Finance International (PFI) (owned by Thomson Reuters) has announced its awards for the top international project finance events of the year, and Mina Justa copper project in Peru has won the Mining Deal of the Year for the Americas.