The Peruvian government is happy with the $3bn (£1.53bn) that Chinalco will invest in the Toromocho mines.Source : BBC
The Chinese will be even happier. They have got themselves a bargain.
The copper Chinalco extracts from Toromocho will cost something like US$410 (£210) per ton. Today, the price for copper on the London Metal Exchange was $8,255 (£4,220) - 20 times more.
Chinalco stands to make a 2,000% profit on its investment.
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