Chilean iron ore and steelmaking group CAP is reportedly eyeing an investment in Peru as part of a $1.6 billion investment plan for the next five years, as previously reported by SteelOrbis.
According to Diario Financiero, the company is reportedly interested in the Peruvian Cerro Ccopane iron ore project, which is owned by Australian miner Strike Resources Ltd.
CAP operates in Peru through its steel processing business Tupemesa. The company also expects to invest $400-$500 million at its Cerro Negro Norte iron ore project to increase output to 7.5 million mt/year of high quality iron ore.