Singapore 31/03/2016 - Chinalco Mining Corp International (CMCI) expects copper in concentrate production at its Toromocho copper mine in Peru to fall a slight 1.8 percent to around 179,000 tonnes this year, the company said in its annual report filed at the Hong Kong stock exchange late on Wednesday.
The mine had produced 182,288 tonnes of copper in concentrates and 5.29 million ounces of silver in concentrates in 2015.
It did not provide reasons for the expected decline for copper for this year.
CMCI reported a loss of $28.9 million in 2015, which widens from a $20.87 million loss in the previous year.
“The copper market fundamentals have not significantly improved. However, with a strong expectation of China’s more aggressive economic easing policies, we have a reason to stay slightly optimistic about copper price in 2016,” the company said.
CMCI’s subsidiary Minera Chinalco Perú S.A operates the Toromocho mine in the Morococha mining district.