October 4, 2005
Peru has set the date of 16 December for the anticipated privatization of L
Peru has set the date of 16 December for the anticipated privatization of La Granja copper deposit. The project, which has gold as well as copper deposits, has been explored before, most recently by Melbourne-based BHP Billiton. The Australian company, however, pulled out citing low-grade ore and high extraction costs. Officials say new technology now available should make extraction easier. An estimated $700 million is needed to develop the project.