woodchurch science

the chinese government has bought an entire mountain in peru and plans to ship it back to china - every last ounce. why? it’s one of the largest copper resources in the world and china is desperate for copper which it is planning to use to re-wire its entire infrastructure. this from the bbc…

The Peruvian government is happy with the $3bn (£1.53bn) that Chinalco will invest in the Toromocho mines. The Chinese will be even happier. They have got themselves a bargain. The copper Chinalco extracts from Toromocho will cost something like US$410 (£210) per ton. Today, the price for copper on the London Metal Exchange was $8,255 (£4,220) - 20 times more. Chinalco stands to make a 2,000% profit on its investment.

here’s a short video clip.

This entry was posted on Sunday, September 28th, 2008 at 3:34 pm and is filed under C1a, chemistry, earth materials, ks4, warren, y10. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.