Vale has been looking for copper deposits in Peru as demand for the battery metal is set to surge in the world’s epic shift to clean energy.
The mining giant has at least two very early-stage projects ongoing in the exploration stage after abandoning a third one in a copper-rich corner of southern Peru, the world’s second-largest producer. The two greenfield copper projects require a combined investment of $7-million, Peru’s Energy and Mines Ministry mineral exploration portfolio showed.
