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Mount Toromocho
Mount Toromocho, meaning in Spanish "a bull with no horns", is a mountain in the Junín Region, Peru that sits next to the long established mining camp of Morococha and hosts a large polymetallic metal deposit. It is now owned by the Aluminum Corporation of China (Chinalco), a parent company of Chinalco Mining Corporation International (CMC). Minera Chinalco Perú S.A., a subsidiary of CMC which operates the Toromocho mine, is boosting the mine's productivity with a new production line.
==History==
The mineralisation on Toromocho has been known and mined on a small scale for many years and was drilled by both the Cerro de Pasco Corporation and its successor (after nationalization) Centromin〔(''Peru Copper Inc, Exploration Activities'' )〕 between 1966 and 1976 but it was evidently not considered worth exploiting, possibly due to lack of finance in the case of Centromin and the spectre of nationalization in the case of Cerro, or because it did not look economically viable at the prevailing metal prices.
Peru Copper Inc was formed in February 2004 and took over the Toromocho option that had been successfully bid for from Centromin by its predecessor company. The five year option required certain expenditures which Peru Copper completed satisfactorily and the option was exercised on 5 May 2008.〔2008-05-06, (''Chinalco, Peru Copper Inc. signs exercise contract '' ), Xinhua News Agency〕 There is no indication of any further payment for the exercise of the option.
In the meantime on 11 July 2007 Chinalco purchased Vancouver listed Peru Copper Inc for C$840 million〔Jun 11, 2007, ''(Peru Copper announces friendly C$6.60/share cash offer by Aluminum of China and concurrent C$70 mln private placement )'', Reuters〕 and it became a wholly owned subsidiary of Chinalco. The new owner now plans to establish an open pit copper mine at a cost of US$2.16 billion to produce 210,000 tonnes of copper annually.〔Bloomberg, 2008-05-06, (''Chinalco to Invest $2.16 Billion in Peru Copper Mine '' ), China Mining Association〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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