South Copper Company: It will invest about 2.5 billion U.S. dollars in Peru's Michiquillay copper project

February 21 reported that Southern Copper Corp. said in a statement Wednesday that it would invest about 2.5 billion U.S. dollars in the Peruvian copper project Michiquillay and 225 million tons of copper a year from 2015 onwards.

Southern Copper won the tender for the development of the mine on Tuesday, attracting two bids for the tender. The government had previously estimated that it needed to invest about 2 billion U.S. dollars.