StockMarketWire.com - Mining giant Anglo American said it would be temporarily slowing down operations at its Quellaveco copper mine in Peru following government restrictions imposed to contain the spread of the COVID-19 virus. Peru's government declared a 15-day national quarantine to curb the spread of the virus, prompting the company to temporarily withdraw the majority of employees and contractors. 'Our development of this world-class project has progressed ahead of schedule and within our budget and we would expect to be able to accommodate this slowdown within our market guidance on both timing and costs at this stage,' the company said. 'The Quellaveco copper project is expected to begin production in 2022, with an expected capital cost of $5.0 to $5.3bn. During the first ten years of full production, Quellaveco was expected to produce approximately 300K tonnes per year at a cash cost of $1.05 per pound of copper,' it added.

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