Chinalco secures US$2 bln loan to develop Peru copper mine

Aluminum Corp of China (Chinalco), parent of China's largest aluminum producer Chalco<601600><2600><ACH>, said it has received a US$2 billion loan from the China Export & Import Bank (China Exim Bank) to develop the Toromocho copper mine project in Peru, sources reported.

Chinalco earlier announced it planned to invest around US$2.16 billion into the project, which is estimated to have reserves of about 12 million tons of copper equivalent.

Toromocho will have an annual capacity of 200,000 tons after it starts operations, according to Chinalco.

On Wednesday, H-shares of Chalco rose 2.03% to open at HK$3.53, while its A-shares opened 0.54% higher at RMB 7.51.

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