Reuters reported that Southern Copper will decide in January if it will go forward with its USD 1.2 billion Peruvian project Los Chancas.

Mr Oscar Gonzalez CEO of Southern Copper said that the company, one of the world's top copper producers is pushing ahead with its investment program in Peru and Mexico despite the global downturn.

He said that once we have the feasibility study we'll decide if it's viable. We'll make this determination in January.

Southern Copper, controlled by Grupo Mexico has said a prefeasibility study of Los Chancas showed mineralized resources of 355 million tonnes with copper content of 0.62% molybdenum of 0.05% and 0.039 grams of gold per tonne.

Source - Reuters

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