The head of Peru’s Compania Minera Atacocha said December 3 the mining company will invest US$100 million in the 114-MW Quitaracsa hydroelectric project being built on the Quitaracsa River in northern Peru.
Atacocha Director Manuel Montori told reporters Atacocha, a leading zinc and lead miner, is moving to secure long-term energy supplies as it seeks to expand in the Andean country.
“There is so much demand that we consider supply a problem and as a mining company we are going to require energy for all the mining projects we have in development,” Montori said.
Montori said Quitaracsa is being handled by Empresa Energetica de Chaprin, an Atacocha subsidiary, and will be built between 2008 and 2011, 420 kilometers north of Lima. In July, Peru’s Ministerio de Energia y Minas granted hydro developer La Empresa de Generacion Electrica Quitaracsa a concession to study two possible transmission line routes for the project in Ancash Department. (HNN 8/3/07)
Montori said Atacocha might make an additional US$70 million investment to expand the hydroelectric plant in the future.
The government is trying to boost energy output at a time when the economy is growing about 8 percent a year.