CAPITAL MARKETS

From silver to copper

THE world's largest silver producer, Mexico’s Penoles, has raised US$155 million from 13 banks to finance development of its Milpillas copper project, its first-ever pure copper play.

Michael Quinn

From silver to copper

According to Reuters, the total cost of the project is expected to be US$215 million, with first production expected in the third quarter of 2005. Milpillas will yield some 55,000 tonnes of copper cathodes...

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